Balance has not changed a lot during the US session, markets have closed a little bit lower than yesterday, but they are still traded near to the top. After the S&P 45 points growth during the last one and a half weak, we can observe a small roll back or a few days rest if banks want to continue buying. Such a scenario would be greate both for sellers and buyers.

Asian markets have closed indefinably, Chinese Index Shanghai lost 0.66%, Japanese Nikkei was holding recent growth with a little change for +0.22%.

European exchanges has opend with downtrend and continued their yesterday’s tendency. But this roll back is being controled, Index is keepping it’s buying sentiments. Traders are waiting for the ECB meeting, which takes place tomorrow. Everyone is waiting for some active actions from Mario Draghi.

Gold has strongly fallen down after the two month consolidation with support at $1280. Traders who were expecting this level had to cover their unprofitable positions. Gold has touched the bottom at $1240-41 and I believe it should have a rest here such as consolidation or a roll back. Resistance breakthrough at $1247 may attract traders who prefer to buy at the bottom and I’m looking forward for a continuation to $1257-60, where 8 EMA stands.

8 EMA stands

GBP/USD startet to work according to scenario. I mentioned a resistane zone 1.6769-1.6780 where I would be waiting for a sale because it would be only 50% roll back compared to the recent fall from 1.68800 to 1.67000. It’s hard now to sell against the support here. But I’ll be trading actively at the roll back. After the bottom breakthrough the next support (target) would be 100 EMA at 1.66550.GBP/USD

The banking sector was comperatively stronger than the market yesterday because of the bonds’ interest rates growth and its positive influance to profits of banks.

Bank of America has broken range down with a gap up so we can now talk about buyers’ strength. Short term moving avarages 8/21 EMA have cought up the wave. Now it has built a base against the resistance $15.30. If it’s broken through, it may lead to the growth continuation. There is a possibility of this break down overlap as when BAC presented its reports on 28 April. The target would be $15.93.

Bank of America

Goldman Sachs has also grown to its $162 resistance, where I would like to see if buyers can seize the initiative.

Apple at the daily chart has jumped off 8 EMA that improves the trend’s strength. It has also broken through the previous top at $634.83. For longer it would hold up higher, the more chances there are for $644.17 top penetration.

Disclaimer of warranty
Despite the fact I give you precise entering price and targeting rates in my notes, every trader should personaly operate their own positions in order to their timeframes and strategy. We have a team of traders here at Opteck and each of them would operate these trade types in their own way. There is no one and only right way of trading.