CFD ANALYST PICKS
TECHNICAL STRATEGIST
JOEL KRUGER
My pick: Still buy the FTSE 100 at 5,000
Expertise: Technical analysis
Average time frame of trades: 5-10 days
The FTSE has been hurt in recent days and it seems like it could head back toward the 5,038 lows reached earlier this year. At this point, we would not rule out the potential for a break to fresh yearly lows and a test of the major psychological barrier at 5,000. But we will look for opportunities to buy once 5,000 is tested in anticipation of a major corrective bounce. I will buy at 5,000 with an objective of 5,400 and a stop at 4,850.
TECHNICAL STRATEGIST
JOHN KICKLIGHTER
My pick: Short Aussie-CAD at A$1.9185 and short the HSI index below 19,350
Expertise: Fundamental and technical analysis with risk management
Average time frame of trades: 1 day-1 week
A plunge in risk appetite has changed the investment landscape. Many trends are looking mature at this stage. In the foreign exchange market, the Aussie dollar is still hanging onto its gains so I am looking to short the currency at A$1.9185 with a A$1.9300 stop and A$1.9035 first target. I still like silver, but I won’t chase it after being stopped out last week. China seems to be living on borrowed time as well. I am looking for a break of 19,350 in the HSI index with a 1,000 point stop.
TECHNICAL ANALYST
ILYA SPIVAK
My pick: Remain short oil at $76.29
Expertise: Global macro, classic technical analysis
Average time frame of trades: 1 week-6 months
Last week I sold crude oil at $76.29 as prices broke below support at the bottom of a rising channel established from the low in mid-July 2009. Prices touched my soft target at February’s swing bottom at $71.20, but have not closed below this juncture so I will hold off from revising that lower for now. However, I will trail my stop-loss to the break-even mark of $76.29. A daily close below $71.20 would prompt me to update my objective to the $70.00 figure.