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  • Squawk / 53 minutes ago
    Head of Commodity Strategy / Saxo Bank
    Brent Crude oil (LCOJ5: 60.70 +2%) has recouped some of what was lost yesterday. A potential breakthrough in the nuclear talks with Iran helped kick-off the selling yesterday and it triggered a reduction in speculative long Brent/short WTI trades which helped WTI outperform.
    Technical support on Brent crude at $59.70 (trendline and 21-SMA) have so far provided the support while resistance at $62.80 is keeping the room for maneuver relative tight.
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  • Squawk / 1 hour ago
    Today’s preference is bearish. Technically, Stochastic and CCI are in overbought condition. Watch 1205.96 – 1212.53 area in order to look for sell signal confirmation with target on 1201.90 – 1195.33.

    Be careful if resistance at 1212.53 breaks, because it will turn intraday bias into bullish and open the chance for a bullish move up to 1216.59 – 1223.16. In that case, the bearish scenario mentioned above may fail as intraday strategy.
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  • Squawk / 2 hours ago
    Head of Macro Strategy / Saxo Bank
    Another solid labour market report from Spain:

    It should be no surprise by now that I view the Spanish economy favourably compared to the other three of the 'big 4' in the euro area, Italy and France in particular.

    The labour market certainly continues to do well. A fresh report for February shows a decline in unemployment of 13,500 while consensus had looked for a drop of 2,900. In January unemployment rose by 78,000. This series is not seasonally adjusted so we compared YTD instead. In 2015, unemployment rose by 64,000 in Jan-Feb compared with 111,000 in 2014 and 191,000 in 2013. A notable improvement.

    The employment series on the other hand is seasonally adjusted, and it shows an increase of 84,000 or 0.5% m/m. This translates into 2.8% y/y; in comparison US nonfarm payrolls are up by 2.4% from a year ago.

    I expect the Spanish economy to grow at least 2% this year - and possibly closer to 2.5% due to added tailwinds from weaker currency and energy prices.
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  • Squawk / 2 hours ago
    Founder, Owner, Director / Market Chartist
    United Kingdom
    S&P 500 ($ES_F) Bull Theme Reinforced from Support at 2100/2099

    Despite another dip to start the week and the month, with modest support intact at 2100/2099, the rebound produced a bullish outside pattern Monday.
    We see this price action as corrective and positive and still see a grinding up trend for early March.
    For Today: We see an upside bias through 2117.75; break here aims for 2122.5.

    If you want to see more, you can view the full S&P 500 E-mini report with screencasts, levels and day trade views - click here
    See all f our Equity Index Futures and other reports by clicking here
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  • Article / 3 hours ago

    Saxo Trade Navigator: Tuesday, March 3

    Head of Macro Strategy / Saxo Bank
    Saxo Trade Navigator: Tuesday, March 3
    March 3, 2015: The Saxo Trade Navigator provides you with daily technical insight into almost 200 instruments, ranging from FX to equities, commodities and bonds. With a host of various technical indicators such as pivot points, RSI and moving averages, the Saxo Trade Navigator can be used to spot daily trade ideas.
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  • Squawk / 4 hours ago
    Partner at 3 C ANALYSIS
    United Kingdom
    Mar Bunds - Shooting Star dominates.
    Thursday’s Bearish Shooting Star pattern continues to be the main background factor. Friday’s decline was extended yesterday but, unlike Bobls, the 13 day moving average was not clearly breached. This concerns, and adds a note of caution, but intraday sentiment is still left negative with potential through 158.95 to 158.72 or even 158.41. The risk is currently assessed as 159.52.
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  • Squawk / 6 hours ago
    Technical Analsyt / commoditymarket2008 Advisory Services
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