OUR 2012 Q2 PROJECTIONS ARE AVAILABLE – CALL US FOR A COPY
KEY TERMS
OVB Outside Vertical Bar
VRCB Volatility Reduced Compression Bar
ENERGIES
BRNK12:
- Short Term Trends are bearish.
- Confirmation of a top with a range violation @ 122.29 on 04/05/12. Confirmation of a top with a close @ 125.43 on 04/02/12. Downside Targets = 120.81.
- New 7 week lows made on Wednesday @ 119.05. Downside Target @ 120.47 over 125% achieved.
- May Brent Crude generated a Parrish Hicks proprietary buy signal on Wednesday despite trading at its lowest level since mid-February.
- After the roughly $9 decline Brent has seen over the last 3 weeks, a rally back to 123.16 is in order.
- Projected Daily Range: 2.31
- Projected Weekly Range: 4.61
- Projected Monthly Range: 9.90
CLK12:
- Short Term Trends are bearish.
- Confirmation of a top with a range violation on 03/22/12 @ 105.69. Confirmation of a top with a close on 03/22/12 @ 105.35. Downside Target = 100.21.
- Possible confirmation of a bottom with a range violation @ 103.14. Possible confirmation of a bottom with a close @ 103.14 or higher.
- May WTI Crude again found support on Wednesday above $100 as a smaller than expected build in inventories led to a sizable rally.
- WTI has lost more than $10 from its contract highs and with a close above Tuesday’s high should set up for a move back above $105 to 105.29.
- Projected Daily Range: 2.12
- Projected Weekly Range: 4.74
- Projected Monthly Range: 9.76
NGK12:
- Short Term Trends are bearish.
- Confirmation of a top with a range violation on 03/22/12 @ 2.392. Confirmation of a top with a close on 03/22/12 @ 2.372. Downside Targets = 2.161 – 1.860
- New 10 year lows made Wednesday @ 1.972. Downside Target over 80% achieved.
- Nat Gas finally broke through the $2.00 threshold Wednesday ahead of possible injections and continuing depressed market conditions.
- The next key number that holds significant value between current prices and our Major Term bottom prediction of 1.799 is 1.880 which is the all-time low since Nat Gas has been an actively traded commodity.
- Projected Daily Range: .078
- Projected Weekly Range: .171
- Projected Monthly Range: .620
METALS
GCM12:
- Short Term Trends are bearish.
- Confirmation of a bottom on 04/09/12 with a range violation @ 1649.60. Confirmation of a bottom on 04/10/12 with a close violation @ 1660.70. Upside Targets 1667.10 – 1699.10
- Inside VRCB generated on Wednesday.
- June Gold paused on Wednesday as the market had a tough time following through on Tuesday’s strong bull OVB because of the Short Term trend lines that are holding this market from cracking $1680.
- Unless Gold can push higher and close above 1682.70, a range violation below Wednesday’s low @ 1653.50 should trigger another round of selling and push this market down below $1600 to $1594.70/oz.
- Projected Daily Range: 19.30
- Projected Weekly Range: 55.90
- Projected Monthly Range: 128.30
CURRENCIES
ECM12:
- Short Term Trends are bullish.
- Confirmation of a bottom on a range violation on 04/11/12 @ 1.3151. Confirmation of a top on a close violation 04/03/12 @ 1.3220. Downside Target 1.3068 – 1.2968.
- Possible confirmation of a bottom with a range violation @ 1.3151. Possible confirmation of a bottom with a close @ 1.3151 or higher.
- The Euro moved slightly higher on Wednesday but closed well off the day’s high as debt concerns still lingers over the currency’s strength.
- If the Euro can close above Monday’s high @ 1.3140, this market should have no problem trading up to our initial upside objective of 1.3309.
- Projected Daily Range: .0095
- Projected Weekly Range: .0234
- Projected Monthly Range: .0503
INDEXES
ESM12:
- Short Term Trends are bearish.
- Confirmation of a top on 04/04/12 with a range violation @ 1398.75. Confirmation of a top on 04/06/12 with a close violation @ 1390.25.
- Inside day on Wednesday. Possible confirmation of a bottom with a range violation @ 1381.00. Possible confirmation of a bottom with a close @ 1381.00 or higher.
- The June S&P’s recovered slightly on Wednesday yet failed to close back inside the daily Support Bollinger Band.
- While the S&P’s may still show signs of technical weakness, look for this market to rebound soon and make a run for new weekly highs by Friday’s closing bell.
- Projected Daily Range: 17.25
- Projected Weekly Range: 35.50
- Projected Monthly Range: 75.00
