The top of the channel is holding firm on CHFJPY as the bulls are managing their positions. Yesterday's candle closed bearish and rejected 124.300 key level. Traders are keeping an eye on 123.600 as well as today's trading activity (candlestick) for further confirmation to the downside.
NATURAL GAS: (update)
NGAS has retraced back to the support trendline. Yesterday's candlestick closed bullish and rejected 5.042. Traders anticipate the bullish trend to resume from the current market price and head to 6.143 and 6.500. A break and close above 5.330 will confirm bullish momentum.
OIL has broken above the 66.50 and 76.00 key levels and is heading to $90.00. The recovery from $8.00 has been aggressive and traders are not expecting a drop unless there is a fundamental change. A retest of 76.00 will pave way for an impulse wave to $90.00. A break above $90.00 will see OIL pushing up to $100.00.