The Iranian Deal: One week and counting. What is to be done?

NGas has been declining in price since reaching a peak of close to 16 in 2005. Excluding a steep fall between 2008 – 2009 the decline has been gradual and contained lots of adjustments. What we expect from a widely used and produced commodity like Gas. The coming online of more and more of the commodity is what is bringing price down. Giant deposits in the eastern Mediterranean and the northwest offshore of Australia not to mention the shale basin in the US have brought more supply to the market. We enter today’s trade on the short side at or below 2.733 placing take profit exit orders between 2.726 – 2.717 and our stop loss exit order between 2.740 – 2.745.

The pair has been in decline since the February falls but has weakens so much that it is approaching an important resistance level. Should the pair break below 107.840 Yen strength against the Swissie could extend to the 106 neighborhood and below to the 104 as well. The Swissie has been experiencing this weakness across the global trading currency board for weeks now. It is a good solid trade that could be taken well into the next few weeks. We’ll keep our stoops loose, meaning not too close to the entry today as to let the positon breathe, meaning not get stopped out on anything but unusual volatility. Enter today at or below 109.190. Place take profit order at between 108.944 – 108.140 and the stop loss exit between 109.394 – 109.684.