Indonesian rupiah had its share from the weakness in emerging market currencies. Over the past two years Rupiah weakened against the U.S. dollar similar to earlier price depreciation that took the cross rate from the lower boundary of its long-term consolidation to test the upper boundary. Fluctuations were between 8,300 and 12,400 levels. It is now the 4th time […]
Since July 2012 both indices respected their 50-day moving averages. Over the past 5 months MIBTEL and IBEX 35 rebounded twice from their 50-day moving averages. Given that the latest uptrends formed clear trend channels with their lower boundaries overlapping with the 50-day moving averages, we can conclude that any breakdown below these critical support levels could deepen the short-term corrections. […]
Here are some of the charts that I shared on twitter. Compass Group had a strong breakout. Stock should move higher in the following days. This was a 7 month-long consolidation range. #FTSE COMPASS GROUP (CPG.L) breaks out of a 7 month-long flat consolidation range. Low volatility set-up. Bullish. pic.twitter.com/EB8YdYSRwK — Aksel Kibar, CMT (@TechCharts) […]
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 […]
