financials - commod surge

E/U surged on Draghis speech taking A/U with it to a new recent high. EuroBanks rallied well, possible target 140 this week from current 130. Aust financials could test 38.2% level of 2007-9 range at 4446 from current 4340.

Cu looking for higher trading range if thru 346, and Texas to jump into higher 90s.

USD hovering around 83 and higher parallel support of trend from when Oil bolted to its all time high back in 2008. Current weekly is above, but watching for sell back below end of month: A/U supportive.

Daily chart, A/U above old daily/4hr from 1Jun-29Jun+.

Could take a shot at mid 5s; 76.4% retrace of 2012 range, and further along the track to 76.4% of 2011 range in the 6s.