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More Profit Taking While Bearish Sentiments Brewing

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STATE OF THE MARKETS

Bearish sentiment is brewing while US markets closed. The Australian, UK and Europe stock markets took a dip Thursday while the US market is closed for the Thanksgiving holiday as medium term investors continue to take profit in the wake of tension that is brewing in the middle east between Iran and Israel. Iran was reported to maneuver more than 1,000 light and semi-heavy lifts vessels in the Straits of Hormuz as a display of strength against Israel.

Crude took a dip to close below $45/barrel on profit taking, after 8 days of rising streak; while gold remain well bid above $1,800/oz as investors remain cautious of any further escalation in the conflict.

This is evident in the short-term account that saw Yen, Swiss and Dollar at the helm of demand while CAD came back to demand in the medium term while being supported by Swiss. Swiss took the lead from Yen in the long term accounts. We are yet to see how the US react to the recent development. (no update to the sentiment index as the US market is closed)


G8 CURRENCIES SENTIMENTS

ST JPY CHF USD AUD EUR NZD CAD GBP ST
MT NZD AUD GBP CAD CHF EUR USD JPY MT
LT NZD AUD GBP CAD EUR CHF JPY USD LT
** ST refers to Short-Term which is daily turnover, MT is Medium Term which is 
weekly
and LT refers to Long-Term which is monthly turnover.

WALL ST MOST ACTIVE

TICKER LAST PRICE

% CHANGE

VOLUME 90 DAYS AVG
** % Change here refer to price vs previous day price

WALL ST TOP FLOWS

TICKER LAST PRICE

VOLUME

% CHANGE FUNDS FLOW $
** % change here refers to volume vs. 20 days average volume.

TOP 5 BLOCK ORDERS

TICKER PRICE/STRIKE TYPE VOL/OI FUNDS FLOW

OUR PICK – Flat, No New Pick

We have no new pick for the holidays due to thin markets. After all, our long USD/CHF idea is in the making. Look forward to be filled in the 0.9050/20 area. There are no new analytics for Thursday as US markets is closed. Happy Thanksgiving to traders in the Norfolk Island, Brazil and the US.

HORIZON STRATEGY SL TP1 TP2
Short-Term Flat
Medium-Term Flat
Long-Term Flat

 

Disclaimer:

This article is for general information purpose only. It is not an investment advice or a solicitation to buy or sell any securities. Opinions expressed are of the authors and not necessarily of MFM Securities Limited or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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MFM Team