Some quick thoughts I just shared on twitter. Charts are valuable. Notes on these:
1) 10 Year U.S. yields are climbing higher. Now very close to strong 7 year-long trend resistance. Breakout above 3.0 levels could be a “game changer”.
2) Nikkei 225 has strong long-term resistance at 16,000 levels. As it approaches to that level, expect weakness.
3) Copper might be forming a medium-term base at these levels. Breakout above 3.35-3.50 will be bullish in the medium-term with a price target of 4.
$ZF_F [1] 5 year U.S. T-Note completes pullback after major breakdown. Can #bonds [2] start another leg downwards? Important! pic.twitter.com/CZjAoCaBHw [3]
— Aksel Kibar, CMT (@TechCharts) December 4, 2013 [4]
"Game changer" one more time. Breakout above 3 levels will reverse 7 year-long downtrend on yields. pic.twitter.com/jri6voP3vC [5]
— Aksel Kibar, CMT (@TechCharts) December 4, 2013 [6]
16,000 is an important resistance for #NIKKEI [7] As we get closer expect weakness. #JAPAN [8] $NKY [9] pic.twitter.com/LUOc6Us83v [10]
— Aksel Kibar, CMT (@TechCharts) December 4, 2013 [11]
From a longer term perspective 3.35-3.50 area will be important. Breakout could send the price towards 4 levels. pic.twitter.com/26BLi3AbGB [12]
— Aksel Kibar, CMT (@TechCharts) December 4, 2013 [13]
Here is why I think Copper might be forming a medium-term base at these levels. #COPPER [14] #COMMODITIES [15] $HG_F [16] pic.twitter.com/mQJR0oZKLH [17]
— Aksel Kibar, CMT (@TechCharts) December 4, 2013 [18]