Germany’s DAX Index is forming a 4 month-long rectangle chart pattern. Rectangles are classified as continuation chart patterns. Breakouts are usually in the direction of the previous trend. Since the beginning of 2016, DAX index is in a uptrend. Since mid-August the index has been in a sideways consolidation between 10,200 and 10,800. The index […]
Since the election in the first week of November, U.S. equities had a strong performance. Though, strong rally in U.S. equities has been limited to very few sectors. ACWI ETF (underlying instrument: MSCI All Countries World index that tracks the performance of the 23 developed and 23 emerging markets) has been in a correction since […]
S&P 500 index is resting on the 2 year-long support/resistance level. Breakout to all time highs in July 2016 was followed by a weak rally in July-August period. Since mid-August the index has been in a sideways consolidation. The pull-back reached the previously broken resistance at 2,120 levels. Price action in the September-October period can […]
WTI CRUDE OIL and BRENT CRUDE OIL prices are developing bullish chart patterns. Year-long inverse H&S chart patterns are close to completion. Both WTI Crude and Brent Crude are challenging their necklines. For Brent Crude oil the year-long horizontal resistance stands at $52 levels. For WTI, the neckline stands at $50 levels. Breakout above the strong resistances can […]
Over the past two weeks, global equity markets rebounded from strong support levels. Last two week’s recovery came after the S&P 500’s pull back to its long-term support level at 2,125 levels. Long-term charts of S&P 500 index and a broader representation of global equity market performance, the MSCI ALL COUNTRIES WORLD INDEX, possibly completed […]
Chinese equities might be on the verge of a strong breakout. This week’s price action pushed the SSE 50 Index to the horizontal resistance at 2,225 levels. Since the beginning of 2016, SSE 50 has been recording higher lows, a bullish signal. Another week of strong price action can clear the 8 month-long resistance and push […]
In the first few months of 2016, strong performance in Gold and Silver resulted in a sharp rally in precious metal stocks. Several oversold gold and silver mining companies had strong performance over the past few months. Similar bullish theme can take place in the basic materials and energy complex. Some of the commodities in […]
Turkish equities are at critical support levels from where they can see a possible turnaround. We are talking about a country and financial markets that experienced a failed coup, an S&P downgrade and a recently declared state of emergency. Yet the magnitude of the correction is less than what BIST 100 experienced after the Gezi Park […]
A strong breakout is likely to take place on Mexico’s IPC Index. Last week’s price action breached multi-year horizontal resistance at 46,500 levels. The horizontal resistance was tested for 5 times over the past four years. Another week of strong price action will confirm the breakout on the local price index and will suggest higher […]
U.S. Dollar continues to appreciate against the Turkish Lira. Over the past three years strong uptrend pushed the cross rate from 1.8 levels to 3 levels. Long-term charts suggest the uptrend can resume in the coming weeks after a year-long sideways consolidation. USD/TRY is possibly forming a symmetrical triangle, usually regarded as a continuation chart […]
