Jugok Trading Room

The crude oil market is very unstable and crude oil prices are rising. Crude oil prices are likely to continue to rise. They seem to want the crude oil market to be unstable. Russia Iran Venezuela are very big energy producing countries. They are pushing these countries into very unstable situation. The Middle East is going to a situation where a big war can happen at any time.

Crude oil prices can not go down. The resistance line of WTI is $ 63.01. WTI seems likely that it will rise to $ 64.6. Brent crude is likely to climb to $ 75.3. If crude oil prices fall, it will be a good  opportunity to buy.

[WTI Oil price daily.chart]

The NASDAQ is attracting people's attention. The Microsoft is at its center. Microsoft stocks have not yet begun the downward trend. It is still on an upward trend.

In the short term, they are likely to decline. I do not know whether it will fall to the lower of last December. It does not seem to be good for trading now.

It may be better to watch outside the market until the stock market determines a new direction.

[MSFT stock price weekly chart]

I have said that stock indexes are at a risky level. A few days ago, I talked about the German Dax index. I said that it was time to close the buy-positions and that it would be better to do sell-trading.

Netherlands AEX 25 index futures are noticeable. The charts say they are going to fall. Important price lines are 544.37 and 528.46. The support line is likely to be about 476.3. At present, I don not known whether they are going to enter a downward trend. It would be better to do sell-trading. Many experts say the stock markets will collapse. In my opinion, not yet.

[AEX 25 Index Futures weekly chart]

Unlike other currencies, the New Zealand dollar has not changed much. NZDUSD is relatively quiet. In the big picture, NZDUSD is on a downward trend. In the medium term, it is likely to move between 0.668 and 0.70. It is likely to decline in the short term. It would be better above 0.69, and set the target price at around 0.674. For the time being, it would be better to do sell-trading.

[NZDUSD weekly chart]

On March 12th, I said that it would be better to buy treasury bond and note futures. Those who visited my blog did not read that article. On Twitter, the article did not get any attention. No expert said that the bond futures would go up. Investors did not show any interest. However, bond futures are soaring. My prediction was right.

10 Year Treasury Note Futures (CME CBOT: ZN) are likely to keep going up for a while. Important resistance lines are 126.1 and 128.5. The 125 and 127 range is a strong resistance band. At that price band, it seems to fluctuate severely. However, in the end it seems to go higher, whether people believe or not.

The important resistance lines of 30-year bonds futures (CME CBOT: ZB) are 155.3 and 161.7.

[10 years T-Note futures weekly chart, CME CBOT: ZN]

The market is like a battlefield where bombs are falling. I do not know which side is north, south, east or west.

Gold: It is hard to know whether gold prices will go up or down. What we can say at this point is that gold prices are not easy to rise.

The silver prices are weak. $ 15.63 and $ 15.78 are important. The market is likely to be noisy next week.

[Gold price daily chart, XAUUSD]


Euro: The euro is going down as expected. It is likely to fall further next week. However, it is hard to know how much it goes down. Euro is not good for trading.

USDCAD is rising as expected. I will hold the buy-position. AUDCAD will fall. However, it does not look good.

SP500: The stock indexes seem to have been bombed. Next week, stock indexes are likely to decline. Dow Jones is the weakest. We could think of selling the Dow Jones index futures. However, it is not the beginning of the downward trend.

The stock market is very noisy. Accordingly, various opinions are pouring out. Will stock indexes fall or rise? In my opinion, stock indexes are likely to decline for the time being. However, I do not mean the beginning of the downward trend.

On March 13, I predicted that the Nasdaq 100 index futures would rebound to 7512 and said it would be better to close the buy-positions.

Stock indexes are plunging today. The Nasdaq 100 index futures also fell sharply, showing signs of risks. At this point, the major pricing lines are 7396.6 and 6862. It is better to go outside the market and watch.

If you have to do trading, it would be better to do sell-trading in the short-term perspective.

>> CME:NQ Nasdaq 100 index futures forecast - time to be careful

[Nasdaq 100 index futures weekly chart, CME: NQ]