Reuters reports that yesterday Iran’s President Hassan Rouhani rejected President Trump’s call for talks saying, ‘’today’s situation is not suitable for talks and our choice is resistance only. Iranians will never bow to a bully’’. Because the country was facing an ‘economic war’ he said his government needed more powers to control the economy.
The Financial Times reports that following Indonesia’s presidential elections, where on Tuesday incumbent Joko Widodo won a second term, protests have broken out overnight with 6 dead and 200 injured, Jakarta city governor confirmed.
DAX 30
No momentum though holding above the neckline of the huge head and shoulders top.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
FTSE 100
Holding at the half-way point of the range since early March, with precious little momentum.
SHORT TERM TRADER: Square.
POSITION TAKER: Short at 7275; stop above 7400. Target 6875.
S&P 500
Decreasing bearish momentum as we react to each little twist and turn in the trade saga.
SHORT TERM TRADER: Short at 2880; stop above 2960. Target
POSITION TAKER: Short at 2866; stop above 2900. Target 2740.
BRITISH POUND/US DOLLAR
More oversold than it’s been since August with a nasty run of down days and a shooting star candle yesterday. This is really not good news. Last year’s low (late December) was 1.2435.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
EURO/US DOLLAR
A little doji yesterday as we prepare for EU parliamentary elections; results due Sunday.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
GOLD
Dipping briefly below trend line support taken from last year’s low. A weekly close below here might set off another round of selling.
SHORT TERM TRADER: Took profits at first target at 1270. Will consider re-selling on Friday’s close.
POSITION TAKER: Square.
