Intraday Market Thoughts

Archived IMT (2009.06.16)

by Ashraf Laidi
Jun 16, 2009 15:54

Oil outperforms metals as the fuel regains $72 while gold remains below $935. But equities in the US and Europe are up by less than 0.5%, which is keeping risk appetite rather limited. Brazils Bovespa (usually a clear sign of global risk appetite) is up 0.6%. Upon closer inspection, Bovespa faces resistance at 53,000, Nikkei-225 descends into negative stochastics that could lead to prolonged risk aversion for the rest of the week.


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