Daily Market Review – 22/06/2015
EU Ministers To Discuss the Future of Greece in Emergency Eurogroup Summit
The focus remains on the Greek situation. Brussels will host an emergency summit of the Eurogroup on Greek debt today after the failure of negotiations last Thursday. Any positive news in negotiations will give rise to purchases of the single currency. Passage of the resistance level at 1.1435–1.1450 will serve as impetus to the upward movement with the immediate target at 1.1500.
Resistance: 1.1435–1.1450; 1.1466; 1.1500; 1.1750.
Support: 1.1300–1.1290; 1.1150; 1.1050; 1.0915–1.0900; 1.0885; 1.0815–1.0800.
Trading opened with an active strengthening of the Russian ruble against the rising oil prices. Key support level is located at 52.75 and will likely to be tested today. In the medium term we continue to expect a resumption of the upward movement.
Resistance: 54.40; 55.05; 57.05; 57.40–57.50; 60.00.
Support: 52.75–52.50; 52.00; 50.00.
S&P500 (Futures SP500 E–mini)
The European session opened with a strong growth of the S&P index. The nearest resistance line is located at 2118.50. If the market breaks through, it will drive S&P towards further growth targeting the historical maximum at 2133.50.
Resistance: 2118.50; 2122; 2133–2133.5.
Support: 2100; 2097; 2070; 2068.50–2068; 2050; 2033; 2000.
This week opened with a continued fall of gold prices. The chart clearly illustrates a double top pattern from the technical analysis. If the market works through it, it should go below the lower boundary of the green channel. Against the background of rapid growth of US stock market sentiment in the gold market is negative.
Resistance: 1200.00; 1205.70; 1232.00; 1240.00.
Support: 1175.00–1174.50; 1170.00; 1163.00–1162.70; 1150.00; 1143.00; 1131.50.