IIFT Daily Note with Peter Brown

Very Quiet

Posted by:  |  Time: 8:07 am  |  Topic:
Trading Is At Your Own Risk - Read Our Terms & Conditions

Yesterday we hit the low end of the ranges. Bounces were small however and not much chance for trading.

Today we open close to the low again. Mood is slightly bearish but not enough to break to the downside I think. Volumes are small and the market is directionless. Very low expectations for profit 25/50 points would be a good day. No point in paying away money giving it a go in these markets. Keep the position size small and wait for the market to change.

Support comes in at 1.2880 for the Euro  1755 for Gold and 14450 for the S&P.

News on Spain will move the market otherwise it will be quiet.

Comments are closed.