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CFD ANALYST PICKS

TECHNICAL STRATEGIST
JOEL KRUGER

My pick: Long FTSE 100 at 5,000
Expertise: Technical analysis
Average time frame of trades: 5-10 days

We had to wait the entire week, but our counter-trend long recommendation on the FTSE was finally triggered on Friday, with the market dropping to our entry level of 5,000. However, it then bounced back above 5,000, putting the trade in profit. The close on Friday is actually quite encouraging, with the formation of a bullish hammer pattern. If the index gets back above 5,085 then it should accelerate higher. I have a stop at 4,850.

TECHNICAL STRATEGIST
JOHN KICKLIGHTER

My pick: Wait for a breakout from the IBEX and WTI crude oil
Expertise: Fundamental and technical analysis with risk management
Average time frame of trades: 1 day-1 week

Last week's price action was highly volatile but completely lacking in direction. This caused my short position in the Hang Seng index to suffer, luckily, though, I had a 1,000 point stop. This week I am not going to try to call a direction on the markets; instead, I will jump in when it looks like it has decided on a direction. I am waiting for a confirmed break of 9,550 or 8,925 on the Spanish IBEX index or a $75.50-$73 break for US oil.


TECHNICAL ANALYST
ILYA SPIVAK

My pick: Remain short crude oil
Expertise: Global macro, classic technical analysis
Average time frame of trades: 1 week-6 months

I sold crude oil in early May at $76.29 as prices broke below the support level at the bottom of a rising channel established from the low reached in July 2009. Then, on 14 May, I raised my stop-loss to break-even. Prices rebounded last week and are now testing resistance at $75.69, a 50 per cent Fibonacci retracement of last month’s decline. I will remain short, with a stop-loss triggered on a daily close above $76.29. I am still looking for a move to $68.