Volumetric analysis on December 12


Many important and interesting events are scheduled for tomorrow. In our focus the ECB meeting and press conference, before that we will see the decisions of the national Swiss bank, as well as the meeting of the EU heads and representatives on the Brexit issue. And these are just scheduled events, you shouldn’t exclude the appearance of news from Trump's twitter account, which can clarify the situation in China. And so on. However, today we will hope that everything will be calm. In any case, many financial instruments have exhausted and waiting for a new impulse. The USDJPY pair came at the top of its aggregated volume, in which it spent the last three months. The probability that it will go higher is relatively small, so we will rely at least on a local rebound from the resistance zone of 113.70-114.20 towards 113.05 or more.


Oil market and all related news goes to the second plan with current fundamental events. But the technical picture suggests that we can see an increase in prices. Though insignificant. If you already have long positions on this instrument, then pay attention to the fact that in the range of 53.62-54.80 there is a trading volume and it is quite likely that there is an open interest. Therefore, we can consider this balance as main resistance. Hence, it seems that within the framework of this year we will not see oil above the 54.80. Therefore, if you plan close trades before the holidays, then it is worth counting on reaching the level of 53.65. It is noteworthy that we will not rule out even lower prices, but the likelihood of updating the minimum is small. So, if the positions are already there, then we either expect to wait for the likely target at 53.65, or we leave with the position for the next year. And if there are no positions, then it makes sense to wait for some pullback and more favorable prices. This scenario refers to positional purchases, which are not designed for speculation with the stop orders placements. The fact that there is a production cost in oil prices limits price drops to certain levels.


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