Since my last update on Copper on the 19th of March price resumed its consolidation in a tight range. http://techcharts.wordpress.com/2012/03/19/copper-3/ This has increased the likelihood of a strong breakout from the possible symmetrical triangle. Given that Dr. Copper held above its long-term moving average (200 day moving average) and rebounded after each test, I would expect this breakout […]
Followers of Tech Charts who are interested in energy prices would remember my earlier posts on Light Crude Oil in February. I always like to use same templates on price charts while analyzing historical data. Looking at the same indicators puts you in sync with price movements. Band width indicator is a perfect example of repetitive cycles. Analyzing […]
Copper is now closer to a major breakout. Since my last analysis on Dr. Copper on the 26th of February, price remained in a tight consolidation range without any directional movement. http://techcharts.wordpress.com/2012/02/26/copper-2/ As price have spent more time in this congestion area with low volatility readings, a breakout in the following days should occur. The fact […]
In the past few weeks we have been reading divided opinions on equity market performance. There is definitely no consensus on the bull market or the bear market. I read several articles suggesting it’s time for a stock market correction supported by reasonable arguments and several suggesting it’s time to buy equities. When public opinion is divided as it […]
In January I’ve analyzed government bonds and drew attention to the weakness and to several negative divergences on the momentum indicators. These signaled weaker bond prices and possible “RISK ON” rally for equities. http://techcharts.wordpress.com/2012/01/21/euro-bund-us-10-year-t-note/ This week bonds gave up and experienced a sharp “sell-off”. Of course the sell-off in bonds, buoyed by higher CPI data from U.S. due […]
Switzerland SMI index has been volatile due to euro zone debt problems. Until mid-2011 price action between 2010 and 2011 was more like a sideways consolidation. However, index broke down the strong support at 5,960 levels in July 2011. This triggered a sharp sell-off towards 4,600 levels. Recovery took 6 months and by the end of 2011 SMI was […]
Thanks to wordpress.com’s improved statistics page, I can now see the visitor’s country profiles. This helps me to diversify my analysis in order to create a larger community at Tech Charts. Tech Charts blog is having visitors from more than 20 different countries everyday. In today’s post I’m analyzing Poland’s WIG 20 index with my usual template (Weekly chart […]
U.S. unemployment rate is unchanged at 8.3%. Employers in the U.S. boosted payrolls more than forecast in February, capping the best six month streak of job growth since 2006. Some 1.2 million jobs were created in the last six months, the most since the same period ended May 2006. I’ve been updating the unemployment chart since August 2011 with the […]
I usually try to share daily & weekly price charts on this platform but today I wanted to post an interesting chart pattern Dow Jones Industrial Average might be forming on an hourly chart. When analyzing charts my main time frame is daily scale. I check weekly (one level higher) and 60 minute (one level […]
Rio Tinto Group is an multinational exploration, development, production and processing corporation with headquarters in London, United Kingdom. The company was founded in 1873. It is among the world leaders in the production of many commodities, including aluminium, iron ore, copper, uranium, coal, and diamonds.The company has operations on six continents but is mainly concentrated […]
