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Global View


GLOBAL VIEW




CRUDE OIL: Last week after soft opening around 60$ CRUDE has given a sharp fall breaking last weeks low but on last trading session it has almost erased all the lost after gaining almost 4% & given a positive close of 60.30$.

Though CRUDE has given a positive close but failed to cross the last week high which suggests toppish formation in CRUDE.

Technically CRUDE is in falling channel and also took resistance at upper level of channel with lower high & lower low formation with monthly reversal. Team NTD alerts that any weekly decisive close below level of 58$ we will see reversal which will drag CRUDE again in to falling territory.
Team NTD is having negative outlook for CRUDE as we are seeing reversal for same.



BRENT OIL (DAILY CHART)



USDJPY (WEEKLY CHART)


USDJPY: Pair has broken its important resistance level of 122.50$ on daily as well on weekly charts with negative divergence which is matter of concern for further upside.

Pair is showing strength compare to other cross currencies. Though pair has given breakout we are expecting reversal from the level of 124$/123.80$ levels as huge negative divergence seen on Daily/Weekly charts.

Team NTD is having cautious outlook on pair for further upside.




GOLD: GOLD is trading in range of 1180$ to 1225$ as part of base building. Team NTD is still having bullish view on GOLD for further upside of 1280$ in short term.

GOLD is also continuously forming higher high & higher low formation with rising channel.  As far as it is maintaining the channel pattern we dont see any panic in GOLD. Any breakout above the channel we will see GOLD to touch the level of 1280$.


SILVER:
SILVER is also forming same pattern as gold with rising channel. We dont see SILVER to fall below 16.40$ as downside is limited. Fresh upside rally we will see only above decisive close of 17.80$ till time we will see base building at every decline in SILVER.

Team NTD is having bullish outlook on SILVER with target of 19.05$ in near term.


{May 30,2015}

























Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

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