Monday, 1 June 2015

3pm update - resistance holds

Declining trend/resistance has held at sp'2119. Downside target remains the sp'2090/80 zone, where there are mulitple aspects of support. A break into the 2070s looks unlikely this week. USD is holding gains of 0.5% @ DXY 97.30s.  Metals remain weak, Gold -$1, whilst Oil is back to u/c.

The Ice King welcomes all resistance



So... opening gains.. a swift reversal... a lot of chop... with a little upside to resistance.

For many.. a day of mild confusion.

Broadly... further weakness to sp'2090/80 looks highly probable.. not least ahead of the monthly jobs data and the OPEC meeting - both due this Friday.

back at the close