daily forex technical analysis report – 04 04-2014
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This is our daily technical analysis report dated of 4th April, 2014 of forex currency, commodities and CFDs. A Daily Technical Analysis Report that can be helpful to all the buyer and seller to safe to from the market update. To access latest daily technical report visit our official website: www.sevenstarfx.comTRANSCRIPT
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Daily Technical Analysis Report
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GOLD ST Trend Down
Obj: 1265.00 TRP: 1321.20
DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1295.00 1297.60 1321.20*
SUPPORTS 1281.50 1277.00 1265.20*-
Comment: The market is bearish, but trying to correct off the 1284-1275 target zone. Be ready
for modest rebounding or corrective days. Any corrections should try to setup a bear flag and
stay under 1305. A close over 132120* is needed to secure a short term turnaround and spark
retracements against the recent selloff. Suspect one more bear leg with a close under 1277
warns for a drop to the 126520*-1262 area.
SILVER ST Trend Down
Obj: 19.520 TRP: 20.950
DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 20.120 20.315 20.585
SUPPORTS 19.600- 19.500 -
Comment: The market is short term bearish and warns for a slide to 1952-. A close under
1945 will send declines against old lows from Dec-January. If trade is reluctant to extend
under 1950 by mid-week, be alert for a bounce into several corrective days, likely starting
flagging congestion up around 2030. Closes over 2061 and 2095* are needed to signal a bullish
turn.
COPPER ST Trend Sdwys /Down
Obj: 2.7100 TRP: 3.0885
DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 3.0420 3.0700 3.0885*
SUPPORTS 3.0095 2.9945 2.9595
Comment: Overall the market is still bearish and drop below 29595 could resume declines to
Commodities | Precious - Metals
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test at 290-. A close under 28770 is needed to add to washouts to 271. The current recovery
suggests rising congestion to force a test at 30885* resistance for a bottoming turn. Be careful for
a setback from 30885*.
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CRUDE OIL ST Trend Sdwys/Down
Obj: None TRP: 98.99
JANUARY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 100.58 101.11 101.62*
SUPPORTS 98.99* 98.40- 96.36*
Comment: The market is caught between 9899* support and 10162* resistance. A close under
9899* alerts for a short term bear turnover and larger selling wave to 9800-9700 and possibly
9636*. Yesterday’s bounce off 9899*+/- gives a slight bull bias for today. However, a close
over 10162* is needed for a critical upturn to higher prices.
NATURAL GAS ST Trend Sdwys
Obj: 4.636 TRP: 4.321
JANUARY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 4.487 4.568 4.636*
SUPPORTS 4.413 4.366 4.321*
Comment: The past two day rebound is twisting short term trend forces up and hints for
climbing moves to 4636*. Be prepared for near term sideways congestion along 4400+/- as trade
works to turn trend momentum forces up. Stable action over 4321* will build for rallies. Only a
close under 4321* rekindles bear trend forces.
Commodities | ENERGY
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MINI S&P ST Trend Up
Obj: 1900.00+ TRP: 1854.25
DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1900.00+ - -
SUPPORTS 1874.75 1868.00 -
Comment: The breakout push into new highs provides short term bull signals, projecting a
drive to over 1900+. Be ready for follow through rallies. Any corrective dips should fight to
stay around breakout levels in the 1870's. A slip under 186725 is negative for the day, but only
a close under 185375* reverses the market to topping trade action.
MINI DOW ST Trend Up
Obj: 16760+ TRP: 16147
DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 16580 16760 16800
SUPPORTS 16419 16360+/- 16271*
Comment :
MINI NASDAQ ST Trend Up
Obj: 3531.00 TRP: 3669.00
DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 3650.25 3669.00* 3700.00+
SUPPORTS 3606.00 3580.00* -
Comment: The market is still in a bear trend, but rebounding action alerts for recovery moves to
test around 366900*+/-. A close over 366900* signals a bull turn, projecting a run back over
370000+. If rally attempts are rejected around 366900*, be ready for a slide back through
Tuesday’s upturn, but a close under 358000* is needed to rekindle bear trending.
T Bonds | INDICES
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SOYBEANS ST Trend Sdwys/Up
Obj: None TRP: 1429.25
JANUARY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1490.00+ 1516.00 1545.00+/-
SUPPORTS 1454.00- 1438.00 -
Comment: The market is in a bull drive, but yesterday’s rally hit the expected target at 1490+.
The formation retains potential, but look for a close over 1490 to send a push up around
1545+/-. Yesterday’s back off from over 1490+ cautions for a slip into a few flagging
congestion days. Trade should find support back along the upper edges of previous
congestion. Only a close under 1438 3/4* negates the breakout signal.
SOYMEAL ST Trend Sdwys/Up
Obj: 497.70 TRP: 463.40
JANUARY FUTURE LEVE1 LEVEL2 LEVEL3
RESISTANCES 485.10 491.50 497.70
SUPPORTS 472.30 469.90 463.40*
Comment: The market is bullish, showing a breakout into new highs and signaling for a
drive to 49770. Trade is positioned for aggressive rallies the next few days. Any corrective
dips should fight to hold within Monday’s range to maintain the upside breakout signals.
Only a close under 46340* highlights a topping turnover.
SOYBEAN OIL ST Trend Sdwys/Up
Obj: None TRP: 42.06
JANUARY FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 41.76 42.06* 42.35
SUPPORTS 41.22 40.80* 40.43
Comment: Wednesday’s reversal rejected the corrective rally at 4206*+ and the sharp retreat
into the close warns for a shift into defensive congestion trade for the next few days. A close
Commodities | GRAINS
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under 4057 could send a drop to again test 4016* weekly support. Only a close over 4176* will
boost trade to challenge 4206* resistance again and attempt sustained advances.
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WHEAT ST Trend Down
Obj: 658.00 TRP: 701.25
MARCH FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 682.00 688.00 701.00
SUPPORTS 666.00 658.00 -
Comment : The market is in short term topping selloffs and open for a selling leg down to 658
1/2. Be ready for continued aggressive selloffs today, but a stall around 658 1/2+/- could
prompt a near term bounce to start corrections. Any rally attempts will likely struggle inside
Tuesday’s range. A close over 701 1/4* is needed for a reversing upturn. A close under 658
1/2 warns for a larger unfolding selloff to 640-.
CORN ST Trend Down
Obj: 515.00+ TRP: 489.50
MARCH FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 501.00 506.00 515.00+
SUPPORTS 492.00 489.00 -
Comment: Monday’s bull day still indicates an upside breakout over recent sideways flagging
congestion and creates potential for a significant bull wave to 515+. Yesterday’s corrective
setback has trade testing back against previous flagging levels. Trade should hold 489 1/2* to
maintain a bull posture. A surge over 507 1/2 will likely spark rallies. Only a close under 489
1/2* signal a reversing turn to the downside.
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SUGAR ST Trend Down
Obj: None TRP: 17.60
MARCH FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 17.26 17.50 17.60*
SUPPORTS 16.87 16.80- 16.49-
Comment: This week’s drop off signals a short term bear reversal with a chance for sustained
choppy declines to 1650. Trade is poised for selloffs, but modest recovery / congestion action
over 1680 could prompt sideways higher consolidation inside the lower half of Tuesday’s
downturn for bear flag congestion today-Monday. Only a close over 1760* rekindles bull
trend forces.
COFFEE ST Trend Sdwys/Up
Obj: 159.50- TRP: 193.05
MARCH FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 175.80 178.00 183.30*
SUPPORTS 167.20 166.00 159.50
Comment : The market remains bearish and drop from last week’s flagging action suggests a
larger selling wave to below 160-. We may see attempts to hold sideways in flagging action,
but any corrections should struggle to rally over 17830. Tight congestion will lead into
selloffs. A penetration under 166 could propel selloffs / bear trending to 15950.
COCOA ST Trend Up
Obj: None TRP: 2987.00
MARCH FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 2940.00 2987.00* 3039.00
SUPPORTS 2900.00 2885.00* -
Comment: The market is suggesting a downturn from peaking congestion and should extend
the current selling wave to 2885*. A close under 2885* is bearish. Any attempts to recover will
Commodities | SOFTS
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likely just resume choppy sideways trade and stay setup for selloffs. Only a close over 2987*
rekindles bull trend forces and drive trade to attack the last swing high.
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COTTON ST Trend Down
Obj: 89.64 TRP: 94.86
MARCH FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 92.37 93.06 94.86*
SUPPORTS 90.39 90.11 89.64*
Comment: The market is signaling a negative flip to short term bear trending and calls for
pressured trade to test a key 8964* support. A close under 8964* marks a multi-week peaking
turn and should foster selloffs to 8600-. A reluctance to penetrate below 9000 could bounce
trade for a few more sideways congestion days, but a close over 9486* is needed to rekindle bull
trend forces.
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EURO ST Trend Sdwys/Down
Obj: 1.3666 TRP: 1.3864
DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1.3749 1.3790 1.3803
SUPPORTS 1.3702 1.3666* -
Comment : Down sloping trade signals a bear turnover and potential for selloffs to 13666*. A
sustained drop under last Friday’s low should drive follow through selloffs against 13666*. A
reluctance to extend under 13702 may yet prompt corrections, but tight congestion will bear
flag. A close over 13864* is needed for a reversing turn back to higher levels.
B POUND ST Trend Sdwys/Up
Obj: None TRP: 1.6672
DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1.6672* 1.6765 1.6773
SUPPORTS 1.6555 1.6539* 1.6434
Comment: The market shows mostly sideways drifting action, but keeping trade capped
under 16672* keeps the balance of trend forces to the downside. A close below 16539* will
recapture bear trend forces and drive trade to 16434 and could foster a slide to 16350-. A close
over 16672* will trigger a reversing turn back to higher prices, sending trade to attack for a
breakout over previous swing highs.
J YEN ST Trend Down
Obj: 0.9617 TRP: 0.9776
DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 0.9677 0.9705 0.9776*
SUPPORTS 0.9617 0.9598 0.9561-
Comment: The market is bearish, but dropping selloffs to the 9617 target. A close under 9598 is
needed to continue washout declines against the base levels from early this year. Be alert for a
Forex | CURRENCIES
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reluctance to renew selloffs under 9700 and in turn trigger a reactionary bounce today-early
next week. However, only a close back over 9776* reverses trade back to the upside.
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AUSSIE$ ST Trend Down
Obj: 0.9362 TRP: 0.8992
DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 0.9219 0.9257 0.9362+
SUPPORTS 0.9160 0.9114 0.9075-
Comment: The market is in a bull drive, but a punch over Tuesday’s high is needed to spark
continued direct rallies to reach for 9362. Suspect a few corrective days. Corrective dips
should hold along the upper edges of recent congestion at 9075- to keep a friendly alignment.
Likely another 1-2 day sideways congestion will bull flag. A close under 8992* marks a
reversing turnover.
CANADIAN$ ST Trend Sdwys/Down
Obj: None TRP: 0.8932
DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 0.9069 0.9074 0.9111
SUPPORTS 0.9002 0.8980 0.8932*
Comment: The climbing moves over the past week signal a short term upturn. A breakout
surge over 9069 suggests a drive to 9150-9200. Trade is poised for rallies, but Fri-Monday’s
rejections from just over 9069 cautions for a minor slip to sideways congestion along 9000 as
trade consolidates gains. Tight congestion days should bull flag. A close under 8932*
rekindles bear trend forces.
SWISS FRANC ST Trend Sdwys
Obj: 1.1219 TRP: 1.1395
DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3
RESISTANCES 1.1271 1.1300 1.1395*
SUPPORTS 1.1209 1.1159 1.1155
Comment: The market is bearish, but yesterday’s selloff dropped trade to the expected 11219
target. A close under 11219 could add washouts to 11159-, but be alert for a reluctance to
continue selloffs under 11219- which could prompt modest reactionary rebounds today-
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Monday. Be ready for resistance around the middle of previous congestion near 113+/-.
Disclaimer: This Report Is only for General Information. Opinions/Estimates Contained Herein is Subject to
Change without Notice. The Data/Information Herein Provided Is Believed to Be Reliable But Does Not Warrant
for Its Accuracy/Completeness. We are Not Liable for Any Action Taken by Any Party Based on the above
Information. This Material Is Not Intended As An Offer Or
Solicitation for the Purchase or Sale of Any Financial Instrument.
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