Forex Futures Forum Archive for 05/31/2006

Syd 23:56 GMT May 31, 2006 Reply   
Silver Eyed Vulnerable Below $12.75




Spot silver $12.56/oz, down 13.50 cents on NY close after metal gave up around 4% overnight under pressure from firmer USD, hawkish U.S. rate sentiment, weaker gold, base metals, easing geopolitical tensions. Technically, close below rising support line from beginning of year suggests more weakness ahead unless metal recoups $12.75 on closing basis ScotiaMocatta

houston st 23:16 GMT May 31, 2006 Reply   

DOE stat estimates for tomorrow:

crude down .2
mogas up 1.4
dist up 1.5
ref runs up .8%
nat gas +76 to +99 bcf

keep in mind the OPEC ministers meet tomorrow but I don't expect we'll see any change in output, although I do expect the host of the meeting to continue his rhetoric about cutting production...today's pullback was encouraging but I still expect more downside then upside in crude s/t, below even the level that Dr. Q posted in the Futures Forum...tomorrow's stats may help unless we get a decent draw in both crude & mogas...mogas still the driver w/ crude inventories @ 8 year highs...gl/gt.

Melbourne Qindex 13:06 GMT May 31, 2006 Reply   
Crude Oil (July) : The current expected lower trading range is 69.56 - 70.32 and the upper trading range is 72.60 - 73.36. The daily directional indicator is (70.30) - 71.84 - 72.98*. The distribution profile of super magnets are as follow : - (62.69) - 67.36* - 68.39 - (70.30) - 71.63* - 71.84 - 72.34 - 72.98* - 76.28 - 78.61* - (77.91) (One have to be very alerted if the market exceeds either end of the distribution profile within this week). The market is under pressure if it is trading below (70.30). A projected supporting barrier is located at 68.63 - 68.80. A projected resistant level is positioning at 74.63 - 74.88 . 

houston st 11:48 GMT May 31, 2006 Reply   

June06 heat/mogas futures expire at the end of today's session...no weekly petro stats until tomorrow...currently crude @ $71.36 (-.65)...products also down slightly...OPEC and UN mtgs still on deck for this week, plus the usual pre-stat positioning...still looking for a pullback...good trades.

Melbourne Qindex 08:02 GMT May 31, 2006 Reply   
S&P (June) : The current expected lower range is 1239.5 - 1246.7 and the expected upper trading range is 1268.5 - 1275.8. The daily directional indicator is (1253.2) - 1254.0 - 1316.5*. The distribution profile of super magnets are as follow : - (1197.9) - 1270.6* - (1253.2) - 1254.0 - 1259.4 - 1265.0* - 1282.2 - 1304.9 - (1308.5) - 1316.5* - 1362.4* (One have to be very alerted if the market exceeds either end of the distribution profile within this week). The market has a good chance to test the supporting strength of (1253.2). A projected supporting level is expected at 1237.0 - 1239.5. A projected resistant barrier is positioning at 1268.5 - 1270.6* 

Melbourne Qindex 02:21 GMT May 31, 2006 Reply   
DJIA (cash) : The current expected lower range is 10912 - 10990 and the expected upper trading range is 11107 - 11185. The daily directional indicator is (11029) - 11068 - 11243*. The distribution profile of super magnets are as follow : - (10583) - 10993 - (11029) - 11068 - 11113* - 11180* - 11243* - (11475) - 11488* - 11493 - 11863* (One have to be very alerted if the market exceeds either end of the distribution profile within this week). Sepculative selling pressure will increase if the market is trading below 11090. A negative signal will be hoisted in my system when DJIA is under 11060.

Melbourne Qindex 01:32 GMT May 31, 2006 Reply   
Australia All Ords : The current expected lower range is 4963.7 - 4994.6 and the expected upper trading range is 5056.4 - 5087.2. The daily directional indicator is (4922.9) - 4946.3* - 5087.2. The distribution profile of super magnets are as follow : - (4690.9) - 4789.7* - 4911.6 - (4922.9) - 4946.3* - 5027.0 - 5036.2* - 5087.2 - 5091.2 - 5102.9* - 5106.4* - 5142.4 - (5154.8) (One have to be very alerted if the market exceeds either end of the distribution profile within this week). The market has a good chance to test the supporting strength of of the range at (4922.9) - 4946.3*. A negative signal is hoisted in my system.