Oil prepares for a massive breakout in the following weeks/months. Magnitude of the price change is likely to make the oil “the hot topic” in the financial media. Why am I saying this? 1) Breakouts from low volatility periods are usually very powerful and are followed by strong directional moves. United States Brent Oil ETF (BNO) and ETFS […]
Cotton price prepares for a strong breakout from its 2 year-long base formation. Recent consolidation can be one of the two bullish chart formations. A cup with handle chart pattern or an ascending triangle. If it is the former, Cotton should break above 94 levels in the short-term. Breakout above 94 levels will clear 2 year-long horizontal […]
Peru’s IGRA index has been one of the weakest from the emerging market equities. After testing 23,850 levels for the third time in the beginning of 2012 IGRA index fell to 14,600 levels. Index formed a clear downtrend below its long-term moving average. Over the past year rebounds have been weak. Index is now testing the horizontal support […]
Still a highly managed currency Chinese yuan is trading above its 200 day moving average – with only one exception since 2005. China was criticized for currency manipulation during the financial crisis between 2008 and 2009. PBOC (The People’s Bank of China) was asked to strengthen the yuan and China to focus on internal demand rather than an export […]
Update #GOLD $GLD rebounds from major support. Targets 200 day moving average at 1,338 levels pic.twitter.com/LkMnYwpKyL — Aksel Kibar, CMT (@TechCharts) January 13, 2014 200-day average at 1,330 levels stopped #GOLD‘s rebound. Only after a breakout above this level it can target 1,440. pic.twitter.com/fYEwcIQAza — Aksel Kibar, CMT (@TechCharts) February 21, 2014 Above are some of […]
Both Palladium and Copper have industrial use. Yet one has clearly outperformed the other over the past four years. Charts suggest the latest strength in Palladium and weakness in Copper could continue. 10 year weekly correlation between Palladium and Copper has been positive 0.4869. Last week Palladium broke out of its year-long sideways consolidation pattern. […]
Multi-year low volatility reading on the U.S. dollar index suggests strong directional movement in the following weeks/months. U.S. dollar index tested the strong support level for the 5th time over the past two years and a breakdown below this support level at 79.5 could push the U.S. dollar index towards 75 levels. Unless we see another rebound from the […]
Strong breakouts are likely on these two commodities in the following weeks. Both Brent Crude oil and Palladium reached multi-year low volatility levels. Volatility is cyclical. Low volatility periods are usually followed by high volatility and vice versa. Charts below show Brent Crude Oil ETF trading in London and Palladium cash price. Breakout above 73 levels on […]
Over the past few weeks we have seen stability in the Turkish equity and currency markets. Turkey started outperforming the MSCI Emerging markets index after its massive underperformance. MSCI Turkey/MSCI Emerging Markets ratio rebounded from multi-year support. This is positive news for the Turkish equities and this trend should resume. Meanwhile recovery in the emerging […]
Are emerging markets really weak? There are outflows from the emerging markets but how are their equity market performances so far? Are their long-term uptrends challenged? Has there been significant technical damage during the latest so-called weakness? If a market is holding above its long-term moving average (200-day moving average), I classify this a uptrend. Likewise, if […]
