Forex daily technical analysis report (march 26, 2014)

Please do not print this report unless it is absolutely necessary. Save a tree. Date: 26/03/2014

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GOLD ST Trend Down

Obj: 1312.00 TRP: 1359.20

DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 1324.10 1332.00 1338.00+

SUPPORTS 1306.00 1302.00 1284.00-

Comment: The market is in a downturn, but selloffs are against the objective / support at

1312*. Trade is poised for follow through selloffs. A close under 1306 will foster continued

selloffs. A reluctance to extend / close under 1312*-1306 should trigger rebounds and

flagging action back up near 1338. Only a close over 135920* rekindles bull trend forces.

SILVER ST Trend Down

Obj: None TRP: 21.070


RESISTANCES 20.550 20.830 21.075*+

SUPPORTS 19.970 19.600 19.500

Comment: The market is short term bearish, but down against the 1997 objective. A close

under 1997 is negative for a wash near 1955, but suspect a bounce 1997- if trade is reluctant to

extend selloffs under 1997. A rebound over 20585 will boost recovery rallies, but any

corrections that fade against 2083 will stay aligned for selloffs. Only a close over 2107* signals

a shift back to higher prices.

COPPER ST Trend Sdwys /Down

Obj: 2.7100 TRP: 3.0885


RESISTANCES 3.0300+/- 3.0885* -

SUPPORTS 2.9745 2.9255 2.9000-

Comment: Overall the market is still bearish. The sideways congestion from the past week and

half keeps trade lined up to test at 290-. A close under 28770 is needed to add to washouts to

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271. Yesterday’s push over 303 is near term positive, but rebounding trade should struggle to

sustain a recovery over the 30885* retracement resistance.


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CRUDE OIL ST Trend Sdwys/Down

Obj: 96.58 TRP: 99.86

JANUARY FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 99.86* 100.40 101.00+

SUPPORTS 98.25* 98.09 96.58*

Comment: The market is still bearish and targets a selloff to 9658*. A drop under last

Thursday’s low will foster follow through declines to 9658*. Current corrections may extend

sideways congestion, but rallies that stay contained on a close basis under 9986* should bear

flag, setting up for follow through selloffs. A close over 9986* stops aggressive bear forces for

a retracement swing to 10162*.

NATURAL GAS ST Trend Sdwys

Obj: 4.248 TRP: 4.504


RESISTANCES 4.442 4.460 4.504*

SUPPORTS 4.248* 4.165 4.029*

Comment: The market is still bearish and pressing to test a support point at 4248*. A close

below 4248* is bearish and could send a wash to 4029*. Be careful for a bounce off 4248* on the

first test. Yesterday’s surge higher hints for recovery action today, but only a close over 4504*

signals a reversal turn to bull trending retracements.

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MINI S&P ST Trend Up



RESISTANCES 1868.75 1871.50 1880.50

SUPPORTS 1843.75* 1826.00 -

Comment: The market is trying to stay short term bullish. A breakout attack over the old

188050 high is needed to launch a driving run beyond 1900+ and much higher. The rejection

near the old high is triggering a few corrective days, but a bounce off 184375*- if bull forces

have control. A close under 184375* is needed for a short term turn below 1816-.

MINI DOW ST Trend Up

Obj: None TRP: 16089


RESISTANCES 16340+ 16400 -

SUPPORTS 16152 16089* 15950-

Comment : The rebounding rallies from last week signals a short term flip back to the upside,

signaling for a secondary drive to challenge previous swing highs over 16400+. Trade is

positioned for rallies, but a breakout at new highs is needed to launch advances. We may see

minor consolidation along 16200-, but only a close under 16089* rekindles bear trending.

MINI NASDAQ ST Trend Up

Obj: 3531.00 TRP: 3673.00


RESISTANCES 3647.75 3673.00* -

SUPPORTS 3597.50 3580.75 3531.00

Comment: The break in recent days is giving topping / bearish signals and opens up potential

for declines to 353100. Trade is poised for selloffs and sustained action under Monday’s low

could motivate another hard selling days. Be prepared for minor corrections back through

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Monday’s range that could work into sideways consolidation near 364300. Only a close over

367300* rekindles bull trend forces.


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SOYBEANS ST Trend Sdwys/Up



RESISTANCES 1434.00 1450.00 1460.00

SUPPORTS 1414.00 1401.00 1383.00-

Comment: The market is still short term bullish, but the rejection from up around the last

swing high and drop off late last week warns for a turn to corrections of peaking trade. A

close under 1401 1/2* opens up retracement potential to 1360-. Monday’s bounce from 1401

1/2*- could motivate rally attempts, but a breakout over 1460 is the trigger for a drive to

1490+.

SOYMEAL ST Trend Sdwys/Up


JANUARY FUTURE LEVE1 LEVEL2 LEVEL3

RESISTANCES 466.90 471.50 -

SUPPORTS 457.20 451.90- 446.50*

Comment: Overall the market is short term bullish, but a breakout over 47150 is needed to

launch a drive beyond 482+. The back off from 470+ late last week may yet foster a few

consolidation days. A mostly sideways week will allow trade to bull flag. A close under

44650* marks a topping turn to lower prices.

SOYBEAN OIL ST Trend Sdwys/Up

Obj: 40.16 TRP: 42.35


RESISTANCES 41.31 41.68 42.35*

SUPPORTS 40.64 40.16* -

Comment: The market is bearish. The sliding declines from last week show a bear target to a

4016*retracement support level. Any attempts to correct back through last Thursday’s break

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will likely fade under 4200- and lead into a bear flag setup. Only a close over 4235* marks a turn

into sustained corrections. Watch for a bounce off 4016* on the first test.


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WHEAT ST Trend Down


MARCH FUTURE LEVEL1 LEVEL2 LEVEL3


SUPPORTS 706.00 700.00 690.00*

Comment : The market is bullish and Monday’s bounce off the 690* support is prompting

secondary rallies. A breakout over last week’s high creates potential for a blow off run over

750+. If trade struggles to push over last week’s high, be ready for modest reactionary selling

back under 700-. A close under 690* alerts for a reversal into topping trade.

CORN ST Trend Down



RESISTANCES 491.00 495.00*+ -

SUPPORTS 483.00 477.00 472.00*

Comment: The market is in a bull trend, but secondary rallies are being stopped by 491 1/2*

and 495* resistance. A breakout over 495* rekindles the bull drive and breakout over the last

spike high alerts for driving rallies beyond 515+. A press under 477 projects selloffs to attack

472* support. A close under 472* confirms a short term top and selloff under 460-.


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SUGAR ST Trend Down

Obj: 16.50- TRP: 17.79


RESISTANCES 17.12 17.60 17.79*

SUPPORTS 16.68 16.50- 16.27*

Comment: The market is triggering a bear downturn and retains potential for a larger

corrective decline below 1650-. Corrections will likely struggle back into congestion levels

over 1712+ and only a close over 1779* rekindles bull trend forces. Narrow congestion under

1712 is setting up for selloffs late this week.

COFFEE ST Trend Sdwys/Up

Obj: 159.50 TRP: 193.05


RESISTANCES 179.75 183.30* 193.05*

SUPPORTS 170.35 166.00 159.00

Comment : The market is bearish and still suggests a larger selling wave to below 160-.

Monday’s reversal alerts for 2-3 flagging corrective days. Any corrections should struggle to

rally over 18330*. Tight congestion will setup for selloff attempts to 15950-. A close over

19305* is needed to kick off a secondary bull drive.

COCOA ST Trend Up

Obj: 2910.00 TRP: 2993.00


RESISTANCES 2970.00 2993.00* 3002.00

SUPPORTS 2927.00 2910.00 2909.00

Comment: The drop off late last week signals a short term turnover and warns for selloffs to

test down along 2910-. A close under 2900 could open up a larger selling wave. Any corrections

will likely remain trapped to sideways congestion under Thursday’s gap. A close over 2993* is

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needed to rekindle bull trend forces.


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COTTON ST Trend Down

Obj: 96.25 TRP: 91.67


RESISTANCES 96.25 98.00 99.00

SUPPORTS 93.21 91.67* -

Comment: Yesterday’s powered run into a breakout over 9400+ gives bull signals for strong

advances. The initial objective is 9625 with potential for moves into the 9800-9900 levels. Any

corrective dips should consolidate in the upper half of yesterday’s range and build a staging

level for rallies. Only a close under 9167* voids the breakout / bull signals.


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EURO ST Trend Sdwys/Down

Obj: 1.3666 TRP: 1.3882


RESISTANCES 1.3870 1.3882* 1.3930+

SUPPORTS 1.3775 1.3747 1.3666*

Comment : Last week’s break signals a bear turnover and opens up potential for selloffs to

13666*. We may see additional sideways flagging days, but only a close back over 13882*

rekindles bull trend forces. Most likely sideways congestion will setup for a bear leg selloff to

13666* before we see a turn into a sustained recovery phase.

B POUND ST Trend Sdwys/Up

Obj: 1.6440 TRP: 1.6672


RESISTANCES 1.6544 1.6600 1.6672*

SUPPORTS 1.6440 1.5356- -

Comment: The market is signaling a downturn from sideways congestion and opening up

potential for declines to 16440. Sustained action under 166- will continue to promote bearish

trade. Any corrective rebounds will need to power back through congestion and close over

16672* to trigger a reversing turn back to higher prices.

J YEN ST Trend Down



RESISTANCES 0.9812 0.9893 0.9920

SUPPORTS 0.9734* 0.9697 -

Comment: Last Wednesday’s break put the market back into the middle of recent congestion

and leaves trade pressing to test the balance point between bull / bear forces at 9734*. A close

under 9734* signals for a selloff below 9680-. A bounce off 9734* could start rallies, but a close

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over 9893+ is needed to project a drive over 100+.


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AUSSIE$ ST Trend Down

Obj: 0.9200+ TRP: 0.8940



SUPPORTS 0.8941 0.8900 0.8940*

Comment: The market is pushing up from sideways congestion, signaling for rallies and a

surge beyond 9160 should boost advances to 9200+ as well as create potential for rallies

beyond 9300+. Any corrective dips should hold this week’s range to keep a friendly

alignment. A drop under 9000 warns for a selloff to test 8940* for a reversing turnover.

CANADIAN$ ST Trend Sdwys/Down



RESISTANCES 0.8944 0.8952 0.9006*

SUPPORTS 0.8882 0.8831 0.8710

Comment: The market is bearish, signaling a downside breakout from the congestion of the

couple months and calls for selloffs to 8750-8710. Trade is poised for declines and drop under

Monday’s low will likely renew selloffs. Any corrections should struggle to retrace last

Wednesday’s range and use any sideways congestion to bear flag. A close over 9006* is

needed to reverse trend forces.

SWISS FRANC ST Trend Sdwys



RESISTANCES 1.1375 1.1381 1.1418*

SUPPORTS 1.1321* 1.1278 1.1219

Comment: The market remains in the bull trend, but needs to stabilize over 11321* to retain bull

forces and motivate rallies for a bull drive. A close over 11418* is needed to spark a run to attack

the recent swing high. Trade may yet test against 11321*. A close under 11321* or drop under

yesterday’s low confirms a short term downturn and likely selloff to 11240-.

Disclaimer: This Report Is only for General Information. Opinions/Estimates Contained Herein is Subject to


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Forex daily technical analysis report (march 26, 2014)