Flash: Emergent bund pattern targets 144.24 and 143.54 – RBS

FXstreet.com (Barcelona) - The previous week saw a head and shoulders pattern on the Bund daily chart with an initial target of 144.24 successfully reached (the 161.8% projection of the head-to- neckline distance).

According to Technical Strategist Dmytro Bondar at RBS, “This movement culminated in a bounce to the neckline region of 145.50/145.80 offering selling opportunities to the ultimate target from the H&S pattern of 143.54, being the full 200% projection from the head-to-neckline distance (published on Thursday). We went short at 145.50/80 to 144.24 onto 143.54 stopping through 146.22.”

May 20, 2013

Slovenian privatization program to start in September

Slovenian Finance Minister Uros Cufer announced on Monday that the country would begin privatizing some of its state-owned companies in September, in an attempt raise funds quickly and avoid asking for international bailout.

Commodities Brief – Precious metals fall during consecutive sessions, crude prices steady at 95.50

The cost of gold fell off its highs Monday (1355.93) following what has started to be another losing session for commodities and more specifically, precious metals. For over the past seven sessions, gold has moved lower, however has remained fortified above significant support at 1321. The 20 and 50-day SMA continues to cap any potential retracement, leading to a definitive bearish outlook, likely to break lower should any tepid manner of recovery take place. At the time of writing, gold prices are now trading at USD $1354.71 per oz.