IIFT Daily Note with Peter Brown

Are the dark clouds gathering?

Posted by:  |  Time: 8:54 am  |  Topic:
Trading Is At Your Own Risk - Read Our Terms & Conditions

A bit late this morning sorry. The mood in Europe is getting very brearish. Greece still not fixed. Spain want a break on austerity. Ireland voting on a meanless fiscal compact. Overall the mood has certainly changed over the last week or so. Euro below 1.3200 this morning, pretty tight ranges at the moment 1.3340  1.3260. The moves are comming on the Dax and S&P. On the later we are down at 1358 as I write. Looks to cheap down here and will probably bounce. Support at 1350 is major.

On Gold we are still stuck at the 150 day moving average on the daily chart. A break below here is a signal for a dep correction towards 1550.

Market is a sell on rallies.

Comments are closed.