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WTI Crude Oil: general review 15 June 2018, 12:14

WTI Crude Oil: general review 15 June 2018, 12:14 Scenario Timeframe Intraday Recommendation SELL STOP Entry Point 66....

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Jun 15, 2018

WTI Crude Oil: general review 15 June 2018, 12:14

 

Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 66.35
Take Profit 66.01, 65.23
Stop Loss 66.60
Key Levels 64.84, 65.25, 66.01, 66.40, 66.79, 67.18, 67.57, 67.96
Alternative scenario
Recommendation BUY STOP
Entry Point 66.85
Take Profit 67.18, 67.96
Stop Loss 66.50
Key Levels 64.84, 65.25, 66.01, 66.40, 66.79, 67.18, 67.57, 67.96
Current trend
WTI quotes are moving within the narrow range with borders at 66.15–66.99. On the eve of today's Baker Hughes report publication on active oil platforms in the US, there is a low trading activity. Last week number of derricks increased by 1 to 862 units. If today's report once again shows the growth of the indicator, the WTI rate will fall under pressure and in the short term may return to the area of 65.62.
In general, the instrument is dominated by a downward trend. Uncertainty about the prospects for the extension of OPEC + arrangements to reduce world oil production continues to put pressure on prices for "black gold".
Support and resistance
Technical indicators show the preservation of the sideways trend. Bollinger Bands are directing sideways. MACD histogram is located in the positive zone and moving along the zero line. Stochastic lines are directed downwards, signaling the formation of a downtrend.
Support levels: 66.40, 66.01, 65.25, 64.84.
Resistance levels: 66.79, 67.18, 67.57, 67.96.

Trading tips
Sell positions may be opened below 66.40 with target at 66.01–65.23 and stop-loss at 66.60.
Buy positions may be opened above the level of 66.79 with target at 67.18–67.96 and stop-loss at 66.50.

3M Co. (MMM/NYSE): general review 15 June 2018, 11:53

 

Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 206.55
Take Profit 215.00, 219.00
Stop Loss 202.00
Key Levels 190.00, 195.00, 202.00, 206.50, 212.00, 220.00
Alternative scenario
Recommendation SELL STOP
Entry Point 201.95
Take Profit 195.00, 192.00
Stop Loss 206.00
Key Levels 190.00, 195.00, 202.00, 206.50, 212.00, 220.00
Current trend
Shares of 3M Co. pushed back from the 52-week low at the end of May and continue strengthening having grown by 4.04% in the first half of June. The drop in quotations of the issuer amounted to 13.49% since the beginning of the year.
The company's shares offer investors a dividend yield of 2.6%. At the same time, over the past 12 months, the dividend payout ratio is less than 60%, which is below the average number for the company.
During the last week the stock of 3M Company decreased by 0.70%. S&P 500 went up by 0.42% within the same period.
Support and resistance
The company's shares are in lateral motion. The technical picture is uncertain. In the near future, the correction of #MMM quotations after a prolonged fall is not excluded. Indicators don't give a clear signal: the price consolidated between 50(MA) and 200(MA), and MACD histogram is close to zero level. Positions are to be opened from key levels.
Comparing company's multiplier with its competitors in the industry, we can say that #MMM shares are neutral.
Support levels: 202.00, 195.00, 190.00.
Resistance levels: 206.50, 212.00, 220.00.

Trading tips
If the price consolidates above the resistance level of 206.50, one should expect the company's shares to resume. The movement potential is aimed in the area of 215.00–219.00. Stop-loss will be placed at 202.00.
If the price consolidates below 202.00, sales of #MMM may be considered. The movement potential is aimed in the area of 195.00–192.00. Stop-loss should be placed at 206.00.
Implementation period: 3 days.

eBay Inc. (EBAY/NASD): general analysis 15 June 2018, 11:49

 

Scenario
Timeframe Intraday
Recommendation SELL STOP
Entry Point 38.90
Take Profit 38.25, 37.50, 37.00
Stop Loss 39.75
Key Levels 36.00, 37.50, 39.00, 39.80, 41.00, 42.50
Alternative scenario
Recommendation BUY STOP
Entry Point 39.85
Take Profit 41.00, 42.00
Stop Loss 39.00
Key Levels 36.00, 37.50, 39.00, 39.80, 41.00, 42.50
Current trend
eBay reported on cooperation with Middle East Internet platform Noon.com for the sale of goods in Saudi Arabia and the United Arab Emirates in the second half of 2018.
eBay can get a 5% share in Adyen as part of the January deal between the companies. Earlier, eBay reported that the Dutch financial and technological company will become the main payment platform for eBay.
During the last week, eBay decreased by 3.58% against the growth of the S&P 500 index by 0.42%.
Support and resistance
Since the beginning of the current week, the "bearish" moods prevail in #EBAY. The technical picture is now ambiguous. The instrument tests the "mirror" support at the level of 39.00. The local resistance is 39.80. The company's shares have the potential to further decline. Indicators do not give a clear signal: the price crossed MA (50) and MA (200); MACD histogram began to decline. It is better to open the positions from the key levels.
The comparative analysis of the indicators of the company and its competitors suggests the neutrality of its share prices.
Resistance levels: 39.80, 41.00, 42.50.
Support levels: 39.00, 37.50, 36.00.

Trading tips
Short positions can be opened after the price is set below the level of 39.00. The closing of the profitable positions is possible at the levels of 38.25, 37.50 and 37.00. Stop loss is around 39.75.
Long positions can be opened after the price is set above the level of 39.80 with the targets at 41.00–42.00. Stop loss is 39.00.
Implementation period: 3 days.

USD/CAD: general analysis 15 June 2018, 10:34

 

Scenario
Timeframe Intraday
Recommendation BUY
Entry Point 1.3136
Take Profit 1.3200
Stop Loss 1.3110
Key Levels 1.3025, 1.3025, 1.3080, 1.3100, 1.3130, 1.3160, 1.3200
Alternative scenario
Recommendation SELL STOP
Entry Point 1.3100
Take Profit 1.3025
Stop Loss 1.3130
Key Levels 1.3025, 1.3025, 1.3080, 1.3100, 1.3130, 1.3160, 1.3200
Current trend
On Thursday, the pair strengthened steadily and grew by more than a hundred points due to the strong dollar. USD was supported by strong May US Sales Data supported USD. It is estimated that sales increased from 0.4% to 0.8%, and Retail Sales increased from 0.4% to 0.9%. Initial Jobless Claims indicator was also positive. It was below the forecasts, which indicates the strength of the employment market and affects the national currency positively.
On Friday, investors are waiting for the publication of the May US Industrial Production, which can fall from 0.7% to 0.2% and affect USD negatively.
Support and resistance
On the 4-hour chart, the instrument grows along the upper border of Bollinger bands, the price range is widened. MACD histogram is in the positive area, keeping a strong signal for the opening of long positions.
Resistance levels: 1.3160, 1.3200.
Support levels: 1.3130, 1.3100, 1.3080, 1.3050, 1.3025.

Trading tips
Long positions can be opened from the current level with the target at 1.3200 and stop loss 1.3110.
Short positions can be opened at the level 1.3100 with the target at 1.3025 and stop loss 1.3130.
Implementation period: 1–3 days.

XAU/USD: technical analysis 15 June 2018, 10:13

 

Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 1300.50
Take Profit 1304.00
Stop Loss 1297.50
Key Levels 1288.10, 1290.72, 1292.82, 1295.45, 1297.34, 1300.28, 1302.90, 1304.64, 1307.00, 1308.96
Alternative scenario
Recommendation BUY STOP
Entry Point 1297.00
Take Profit 1293.00
Stop Loss 1300.00
Key Levels 1288.10, 1290.72, 1292.82, 1295.45, 1297.34, 1300.28, 1302.90, 1304.64, 1307.00, 1308.96
XAU/USD, D1
On D1 chart the instrument is trading between the lower and middle lines of Bollinger Bands, price range is narrowed. MACD histogram is in positive zone, gradually reducing its volume. Stochastic is in the neutral zone, and the lines of the oscillator are reversing downwards.

XAU/USD, H4
In H4 chart the instrument corrected to the middle line of Bollinger Bands, the price range is expanded. MACD histogram is in the positive area keeping a weak signal for the opening of long positions. Stochastic moves in the direction of the border of the oversold area, the oscillator lines are directed downwards. In case of crossing the designated border from above a signal to open long positions will be received.

Key levels
Support levels: 1297.34, 1295.45, 1292.82, 1290.72, 1288.10.
Resistance levels: 1300.28, 1302.90, 1304.64, 1307.00, 1308.96.
Trading tips
Long positions should be opened from the level of 1300.50 with target at 1304.00 and stop-loss at 1297.50.
Short positions should be opened from the level of 1297.00 with target at 1293.00. Stop-loss – 1300.00.
Implementation time: 1-3 days.

NZD/USD: New Zealand dollar declines 15 June 2018, 09:56

 

Scenario
Timeframe Intraday
Recommendation BUY STOP
Entry Point 0.6980
Take Profit 0.7030, 0.7058
Stop Loss 0.6935
Key Levels 0.6820, 0.6850, 0.6880, 0.6935, 0.6973, 0.7000, 0.7058, 0.7090
Alternative scenario
Recommendation SELL STOP
Entry Point 0.6930
Take Profit 0.6880
Stop Loss 0.6973
Key Levels 0.6820, 0.6850, 0.6880, 0.6935, 0.6973, 0.7000, 0.7058, 0.7090
Current trend
NZD declined significantly against USD on Thursday, noting a new local low since early June.
The results of Wednesday’s Fed meeting have met the market expectations. The interest rate was raised from 1.75% to 2.00%, and 8 out of 13 FOMC voting members favored two more rate increases this year. However, the head of the Fed, Jerome Powell, said the regulator is not fully confident in the growth of inflation; otherwise, the rate would have increased more.
On Thursday, the strengthening of USD is due to the negative market’s reaction to the results of the ECB meeting. Contrary to the investors’ expectations, QE program was prolonged until December. Also, strong May US Retail Sales data supported USD. It exceeded the forecast, and Retail Sales increased from 0.4% to 0.8%, and Retail Sales Ex Auto grew from 0.4% to 0.9%.
Support and resistance
Bollinger Bands in D1 chart show moderate growth. The price range is narrowing, reflecting ambiguous nature of trading in the short term. MACD is declining having formed a sell signal (located below the signal line). Stochastic decreases, rapidly approaching its minimum levels, which indicates an increase in risks associated with the oversold NZD.
Technical indicators do not contradict the further development of the "bearish" trend in the short and/or ultra-short term.
Resistance levels: 0.6973, 0.7000, 0.7058, 0.7090.
Support levels: 0.6935, 0.6880, 0.6850, 0.6820.


Trading tips
Long positions should be opened if the instrument reverses upwards followed by the breakout of 0.6973. Take-profit – 0.7030 or 0.7058. Stop-loss — 0.6935.
The breakdown of 0.6935 may serve as a signal to further sales with the target at 0.6880. Stop-loss — 0.6973.
Implementation period: 2-3 days.

USD/JPY: the dollar is strengthening 15 June 2018, 09:50

 

Scenario
Timeframe Intraday
Recommendation BUY
Entry Point 110.82
Take Profit 111.38, 111.50
Stop Loss 110.50
Key Levels 109.45, 109.76, 110.00, 110.47, 110.78, 111.00, 111.38
Alternative scenario
Recommendation SELL STOP
Entry Point 110.40
Take Profit 110.00, 109.76
Stop Loss 111.00
Key Levels 109.45, 109.76, 110.00, 110.47, 110.78, 111.00, 111.38
Current trend
Yesterday, USD grew moderately against JPY, developing the upward momentum since the beginning of the week. Thursday’s Japanese macroeconomic data were optimistic and supported JPY in the morning.
Capacity Utilization increased by 1.8% in April against 0.5% in the previous month (forecasted 0.3%). Industrial Production was better than expected and grew by 0.5% in April from 0.3% a month earlier. The YoY indicator did not reach the forecasted levels of 2.6% in April against 2.5% in the previous month (forecast 3.1%).
On Friday, investors will pay attention to the BoJ Interest Rate Decision and the following BoJ Monetary Policy Statement.
Support and resistance
On the daily chart, Bollinger bands are actively growing. The price range is slightly widening, letting the "bulls" renew local highs. MACD grows, keeping a moderate buy signal (the histogram is above the signal line). Stochastic is growing near its highs, reflecting that USD is overbought in the very short term.
It is better to postpone opening new positions until next week and keep current long positions in the short term.
Resistance levels: 110.78, 111.00, 111.38.
Support levels: 110.47, 110.00, 109.76, 109.45.


Trading tips
Long positions can be opened after the breakout of the levels 110.78 or 111.00 with the targets at 111.38–111.50 or 111.70 and the stop loss 110.50 or 110.20.
Short positions can be opened after a rebound from the level of 110.78 and breakdown of the level of 110.47 with the target at 110.00 or 109.76 and stop loss not further than 111.00.
Implementation period: 2–3 days.

GBP/USD: the pound is declining 15 June 2018, 09:39

 

Scenario
Timeframe Intraday
Recommendation SELL
Entry Point 1.3238
Take Profit 1.3148, 1.3100
Stop Loss 1.3300
Key Levels 1.3148, 1.3203, 1.3243, 1.3286, 1.3350, 1.3400, 1.3471
Alternative scenario
Recommendation BUY STOP
Entry Point 1.3290, 1.3310
Take Profit 1.3400, 1.3471
Stop Loss 1.3220, 1.3200
Key Levels 1.3148, 1.3203, 1.3243, 1.3286, 1.3350, 1.3400, 1.3471
Current trend
GBP declined steadily against USD on Thursday, noting a new local high since May 30, although in the morning the instrument traded with a rise.
GBP was supported by strong May data on retail sales in the UK. YoY indicator grew from 1.4% to 3.9%, which is the highest level of 13 months. According to retailers, this was due to the warm weather and the royal wedding of Prince Harry. However, the state of the British economy is questionable. On the one hand, after March fall, the indicator is growing for the second month in a row, which may indicate a temporary decline in the economy. On the other hand, the growth is due to temporary factors, and in June the decline in sales may resume. Bank of England will probably need new data to make an interest rate decision in August.
Later, investors focused on the ECB meeting results and strong US statistics, which provoked active sales.
Support and resistance
Bollinger Bands in D1 chart demonstrate flat dynamics. The price range remains consolidated. MACD reversed downwards having formed a sell signal (located below the signal line). Stochastic keeps its downward direction but is approaching its minimum marks, which reflects the oversold pound in the ultra-short term.
The indicators do not contradict the further development of the "bearish" trend in the short term.
Resistance levels: 1.3286, 1.3350, 1.3400, 1.3471.
Support levels: 1.3243, 1.3203, 1.3148.


Trading tips
A breakdown of 1.3243 may be a signal to further sales with target at 1.3148 or 1.3100. Stop-loss – 1.3300. Implementation period: 2-3 days.
To open long positions, one can rely on the rebound from the support level of 1.3243, with the subsequent breakout of 1.3286 or 1.3300. Take-profit — 1.3400 or 1.3471. Stop-loss — 1.3220 or 1.3200.

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