16,000 level becomes more important for Japan’s Nikkei 225 index as the benchmark reaches the decade-long trend resistance. In May 2013, Nikkei 225 had a spike and tested the long-term resistance area. Sharp pullback to the 200-day average followed right after the strong rally. Now, the index is trying to reach the same trend resistance. To […]
I analyzed Cocoa prices in October and drew attention to the strong horizontal resistance at 2,800 levels. That study needs an update now as the price is challenging the strong resistance for a possible breakout. Higher prices could be seen in the following weeks once this base formation completes with a similar breakout that took […]
GBP is gaining strength against major currencies. This is a bullish chart pattern that has been forming over the past year on GBP/CHF. Cross rate tested 1.48 levels for three times over the past year and a break above this resistance could send the cross rate towards 1.51-1.52 area resulting in further GBP strength. Chart pattern can be […]
Can these stocks break out of their decade-long consolidation ranges? 3 charts with similar technical outlook, challenging all time highs — Aksel Kibar, CMT (@TechCharts) November 21, 2013 #LSE #FTSE IP GROUP (IPO.L) challenging 160 levels for the seventh time over the past decade Breakout will be bullish pic.twitter.com/wYCVKIoFsC — Aksel Kibar, CMT (@TechCharts) November […]
If you think that currencies have been volatile, you haven’t seen anything yet. We are likely to see more volatility and read about “currency wars” in the following months. These two charts are extremely powerful and suggest both cross rates are at an extreme low volatility period when compared with the past few decades. Volatility […]
European equities recover from the bear market by first clearing their 200-day moving averages and then by breaking to new high levels. Two indices that have shown considerable strength over the past few months are Italy’s MIBTEL and Spain’s IBEX 35. Italy FTSE MIBTEL started gaining momentum after the breakout above 17,700 levels. Uptrend is intact and the index […]
Yields are rising once again putting pressure on the bond market. U.S. 10 year Treasury yield doubled since mid-2012 and now it is close to strong trend resistance between 2.9-3.0 levels. 200-day moving average which is at 2.4 levels is acting as medium/long-term support. Unless 10 year U.S. yield breaks down 2.4 levels in the following weeks […]
#JAPAN #nikkei Several japanese equities have similar chart pattern. Symmetrical triangles suggest upside breakout. pic.twitter.com/zzi0gyZ3ht — Aksel Kibar, CMT (@TechCharts) October 31, 2013 #JAPAN TOYOTA INDUSTRIES (6201.T) form symmetrical triangle. Breakout above 4,500 will be bullish. pic.twitter.com/hInifpmfDf — Aksel Kibar, CMT (@TechCharts) October 31, 2013 #SINGAPORE For those who enjoy trading triangle (consolidation range) breakouts […]
Copper prices might be forming a medium-term base at these levels. Confirmation of the base formation will be a decisive breakout above 3.4 levels. Chart pattern suggests an inverted head and shoulder might be close to completion once price clears 3.4 levels. MACD is trying to reverse from 0 levels (bullish) and price is challenging the 200 day […]
Flat range breakouts are usually powerful and are followed by strong directional move. Here are some of the candidates for a breakout… — Aksel Kibar, CMT (@TechCharts) October 26, 2013 #ASX #Australia INSURANCE AUST. (IAG.AX) breakout above 6 levels will be bullish. #ascendingtriangle pic.twitter.com/pn6W5zdTkU — Aksel Kibar, CMT (@TechCharts) October 26, 2013 #Australia INFIGEN ENERGY […]
