After Wednesday’s OPEC standstill, the concerns of a shortage of crude supply have giving this a market a bit of steam to the upside. Given that crude has been range bound since early May between 95 and 105, looking for a short in crude between 103 and 105 would be a suitable outlook in respect to current fundamentals as long as demand influences remain stable. The chart reflects this range very well. This congestion area, creates an opportunity to sell between this range with tight stops above...

After the formation of a Bearish engulfing pattern formed on the week of May 2nd. We can now see a pull back towards the upside on demising volume, further strengthening a possible downside move if a candlestick can close below 1535. This trade may take a week to develop, but the possibility of longs covering and taking profits may cause another sharp retracement down to the gap up on May 24th, which this now a strong support level.
Look for the short signal to form and Gold retracing...

In our previous commentary on Corn Futures, we discussed selling this commodity once the price of 7.41 was broken. The market is now trading at 7.30’2; we are still anticipating a further slide in this market. Our original price objectives are still in place. However, now that the market has sold off more than 10 cents; those who entered this market at the prices offered would be well advised to move your protective stops down to your entry
points or further to begin locking in small profits....

Corn technically could be headed for a slide, as we are inthe planting season and weather temperatures are making it easier for farmersto plant seeds. A pattern completion has signified a selling opportunity incorn, we are looking for a point of entry once the market sells just below 7.41 a protective stop can be placed at 7.75, limiting our exposure to the possibilitythat growth production could be also halted due to weather circumstances asflooding has played a part in speculating poor crop production....

Top Concerns for Euro

Greece

Greece’s cabinet is now considering even more strict austerity measures to appease the IMF, ECB and European Commission. It is now considered fact that Greece with get the next bailout payment from its first bailout and a second bailout will be coming soon. The IMF is still planning on holding back its $3.3 Billion Euro part of the bailout installment unless the Euro group can come up with a plan for Greece to close its budget gap for 2012....