US markets’ without any great changes. A reversal Head&Shoulders pattern has been formed on a short term gap of S&P chart this morning. $195.17 support was broken, but buyers managed to restore it and sellers got into a trap. Now traders have a new point to start from — $194.92. We also should pay attention to a daily chart, because lots of traders and media frightens investors with a global revolution and 1930s and 2008 crisis repetition. We cannot exclude such a possibility but to confirm a “global” revolution the price should break through and be traded lower than 8/21/50/100/200 ЕМА. We’ll watch out for market sentiments day by day. I’ve marked some important rates on a daily chart: 8/21 EMA, a gap up and a range breakthrough point.
Asian markets have closed indefinably. Nikkei is +0.5% up. European exchanges have been falling after calm sessions in US and Asia.
IBM shares found their confirmation among the yesterday’s ideas. They continued showing their weakness and closed a little bit higher than the intraday bottom. The price has opened lower than our entrance level $186 and fallen quickly to $184.80 where they entered a consolidation. The breakthrough of this consolidation gave us a new trading opportunity and shares have fallen quickly to $183,83.
Facebook has broken through a $64.00-.30 resistance and closed at the top $65.77. Once I’ve mentioned that “Facebook closed in the red because it could not hold up higher than $64. But nevertheless it has been consolidating higher than the averages in front of a resistance rate and could break it through. I’d look in both directions. It might continue previous tendention lower than $62.82. Support was $62.00.” Now we’ll see if buyers are able to hold this growth. I’ve marked potential support rates on the chart. The higher they’ll hold the price the more there would be chances for an upwards movement and $65.82 top breakthrough.
I’ve mentioned trading opportunities in currency pairs GBP/USD and AUD/USD on 9 May. AUD/USD has also estimated the first target, 100 EMA is a great support for it. This currency pair is growing wavy, so it’s the best to buy rollbacks near to the key moving averages as it has broken the flag and can attract attention of major investors. GBP/USD has jumped off a trend line and got a great continuation to 1.67400 after the important 1.67800 rate breakthrough.
Gold has broken the resistance $1.247 after it found support about $1.241. Then it continues to show signs of buyers as a good base built near the top. Gold broke through the key $1.257 rate and almost achieved the $1.267 target I had pointed out on Monday. The nearest support is $1.259. The $1.263 resistance breakthrough may attract more buyers.