Market Commentary 06.03.2015

ENERGY

US OIL closed lower on Thursday as it extends the trading range of the past two weeks. The low range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain bearish hinting that a short term top might be in or is near. Closes below last Wednesday's crossing are needed to confirm that a short term top has been posted. If it renews this winter's rally, the 2011 high crossing is the next upside target.

NATURAL GAS closed sharply higher on Thursday and the high range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near term. If it extends the rally off February's low, the 87% retracement level of the November January decline crossing is the next upside target. Closes below the 20day moving average crossing are needed to confirm that a short term top has been posted.

FX - EURO

THE EURO closed lower on Thursday as it consolidates some of the rally off last Thursday's low. The low range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near term. If it extends the rally off last Thursday's low, February's high crossing is the next upside target. If it renews the decline off February's high, monthly support crossing is the next downside target.

FX - YEN

THE YEN closed higher on Thursday and the high range close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near term. If it renews the rally off September's low, monthly support crossing is the next upside target. Closes above the 20day moving average crossing are needed to confirm that a short term low has been posted.

FX - SWISS FRANC

THE SWISS FRANC closed higher on Thursday and the high range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near term. If it extends this rally, January's high crossing is the next upside target.

FX - STERLING

STERLING closed lower due to profit taking on Thursday as it consolidated some of the rally off this month's low. The low range close sets the stage for a steady opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible nearterm.If it extends the decline off last Thursday's high, the reaction low crossing is the next downside target.

 BULLION - GOLD

SPOT GOLD closed lower on Thursday extending the trading range of the past six days. The low range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI remain neutral to bearish signalling that additional weakness is possible near term. If it extends the decline off February's high, the reaction low crossing is the next downside target. Closes below the 20day moving average crossing are needed to confirm that a shor tterm top has been posted.

BULLION - SILVER

SPOT SILVER closed higher on Thursday and the low range close set the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near term. Closes below the 20day moving average crossing are needed to confirm that a short term top has been posted. If it renews this winter's decline, weekly support crossing is the next downside target.

INDICIES - US 30

US30 Index CFD closed higher on Thursday and the high range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near term. If the Dow extends this year's rally into uncharted territory, upside targets will be hard to project. Closes above the 20day moving average crossing would signal that a short term low has been posted.

INDICIES - US 100

US 100 Index CFD closed higher on Thursday and the low range close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near term. If the Dow extends this year's rally into uncharted territory, upside targets will be hard to project. Closes above the 20day moving average crossing would signal that a short term low has been posted.

INDICIES - US 500

US 500 Index CFD closed higher on Thursday and the high range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near term. If the Dow extends this year's rally into uncharted territory, upside targets will be hard to project. Closes above the 20day moving average crossing would signal that a short term low has been posted.

COMMODITIES - US COFFEE

US Coffee CFD closed lower on Thursday and the low range close set the stage for a steady to lower opening on Friday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near term. If May renews the decline off January's high, weekly support crossing is the next downside target. If it renews the rally off February's low, the reaction high crossing is the next upside target.

The information set forth herein was obtained from sources which we believe to be reliable, but its accuracy cannot be guaranteed. It is not intended to be an offer, or the solicitation of any offer, to buy or sell the products or instruments referred herein. Any person placing reliance on this commentary to undertake trading does so entirely at their own risk.