Well, yesterday the existing home sales data was released and what we was an all time high in the median sale prices amidst a lagging supply and a growing demand this coming spring. It grew by 1.8% to an annual adjusted rate of 5.53M in May up from 5.43M recorded in April- representing the largest growth pace in a decade. On the Senate Banking committee, Yellen was positive that the Fed was implanting measures which ensured that it carried out its mandate of ensuring maximum employment while driving inflation to the targeted 2% and that she wasn’t trying to keep track of the stock prices while keeping the “third pillar of the economy” afloat. We also saw the Crude Oil inventories retracting back to -0.9M against the projected -1.3M figure while the API reported that there was a 5.2M drawdown in oil inventories. This kind of data is bad news for oil and we saw it losing 40 cents yesterday and trading below the $50 level and correcting after that 3 day rally. At the backdrop of Brexit, all brokers are taking measures and trader protection is taking centre stage but despite this, the 11-12% votes who are undecided on the vote will be the ones swinging the axe and determining the outcome. We shall also watch the Unemployment claims today at 1230 GMT+3 projected at 271K from last week’s 277K and then later the New Home sales at 1400 GMT+3 expected to drop to 561K from last month’s 619k. Technically, we shall keep our longs and as the uncertainty in the market continues we shall expect price to rise even higher and hit the 38.2% Fibonacci level in the Daily chart from the fact that price is close to the upper BB and the OBV is positive. We shall look to buy from all lows-after a correction from the bullish Asian session- in the 15 minute charts at yesterday’s highs only after there is a buy signal indicated. Today’s plan is as follows: Buy Limit-0.7084 SL-0.7054 TP-0.7150 Have a good trading day.

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