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 […]
After four years of strength in employment figures, weekly jobless claims found support at multi-year low around 300K. Weekly jobless claims reversed from 280K-300K area in 1989, 2000 and 2006. Similar reversal might be in place as we enter the last quarter of 2013. Jobless claims already experienced a sharp rebound over the past few weeks and […]
Cocoa moved higher after its breakout from the base formation – a cup with handle. This chart pattern is usually regarded as bullish and a breakout above the horizontal resistance suggest higher prices. Price target is calculated by adding the width of the formation to the breakout level. In the beginning of August (August 8, […]
Dow Jones Industrial Average pulls back to its long-term 200 day moving average. This is also the 5 year-long trend line support. At this point I see the market oversold. Strong support area is between 14,300 and 14,500. It is important to note that Dow Jones Industrial Average has been trading in a wide range […]
Flat consolidation range. Breakout above 76 will be bullish. Low volatility setup. NORDSON CP (NDSN.OQ) #NASDAQ pic.twitter.com/Cg1exg4Ch4 — Aksel Kibar, CMT (@TechCharts) October 6, 2013 One more ascending triangle. Bullish above 43. THERAVANCE (THRX.OQ) #TECHTRADE #NASDAQ pic.twitter.com/6dVjilSfFr — Aksel Kibar, CMT (@TechCharts) October 6, 2013 Ascending triangle with bullish implications above 6. NEWCASTLE INVT (NCT) […]
