My pick: Sell gold at $1,115
Expertise: Technical analysis
Average time frame of trades: 5-10 days
Our short gold trade from the previous week has been triggered and a new lower top now looks to be in place at $1,127. The market is adhering to the downtrend in gold that has been in place ever since December. Traders should now look for a drop towards our $1,030 objective over the coming days.
Strategy: go short at $1,115 for an objective of $1,030 and a stop placed at $1,165.
My pick: Short crude oil at $80
Expertise: Fundamental and technical analysis with risk management
Average time frame of trades: 1 day–1 week
Though risk appetite is relatively stagnant, many of the risk-sensitive markets have nonetheless shown remarkable strength over recent days. This has led my silver to a loss and my gold and Nasdaq positions to hit their respective break-even levels on those remaining positions. However, I believe this drift is destined to falter, and I will position for a turn.
Strategy: short oil at $80 with a $84 stop and $70 initial target.
My pick: Short FTSE 100 below 5,383.71
Expertise: Global macro, classic technical analysis
Average time frame of trades: 1 week-6 months
The UK benchmark index has retraced higher in February and is nearing critical resistance at 5,383.71, the 61.8 per cent Fibonacci retracement of the 11 Jan-8 Feb sell-off. This move is corrective and there should be a return to risk aversion in the coming days. I am looking for a bearish reversal candlestick formation below the resistance to go short, targeting a return to the previous bottom of 5,033.78.
Strategy: go short FTSE if it fails at 5,383.71, targeting 5,033.78.