Waiting for Pattern Completions
by AL MARTIN (INSIDER INTELLIGENCE)
(3-17-13) The June Long Bond contract continued to move higher in Friday's trade, continuing to disassociate from equity markets. After three good US Treasury auctions last week, we would expect the Bonds to move up to the 143 area in early week trade.
March Dollar contract continues to meet resistance at 83.00 However we think any moves in the Euros back to 1.31 or better are shorting opportunities, as we expect the 1.29 area to be tested within the next five days.
April Oil also being turned back consistently in the 93.50-80 area. We shorted the Oil again on our standing order at 93.75 in Friday's trade and would expect to be able to take a dollar out of the contract by the close Monday.
For the rest of this FREE SAMPLE COLUMN of commodity futures trading recommendations, go to Market Analyst/ Independent Trader Al Martin's website CLICK HERE Insider Intelligence
* AL MARTIN is a market trader as well as an independent political/ economic analyst with 25 years of experience as a trader on NYMEX, CME, CBOT and CFTC.
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