Strong price action should be followed by a decisive breakout on the BSE Sensex Index. Since 2007, Sensex tested 21,250 levels for three times and over the past few months price action suggests a breakout to all time highs is very likely. Confirmation of the breakout should come after a decisive weekly closing above the strong resistance at […]
2 year-long depreciation for the Indonesian Rupiah should be over with the USD/IDR reaching long-term trend resistance at 12,400 levels. In 2012, I’ve analyzed several emerging market currency weakness against the U.S. dollar. USD/IDR was one of the charts that formed major base reversal (inverted head & shoulder). Since then, the asian currency depreciated from 9,000 levels to 12,000 levels. 2 year-long uptrend on the USD/IDR is […]
Here are some of the charts that I shared on twitter today. U.S. weekly jobless claims chart is extremely important as I shared several updates on this topic. Year 2013 can prove to be a major low for weekly jobless claims figure. #unemployment To understand the importance of the latest weekly jobless claims data check […]
Strength in India’s BSE Sensex Index is no surprise as the benchmark has been testing historical high levels. In September I shared an analysis showing similarities between India and South Africa equity index chart patterns. I think consecutive tests of the historical high levels on the BSE Sensex Index will lead to a breakout and […]
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 […]
Indonesian rupiah had its share from the weakness in emerging market currencies. Over the past two years Rupiah weakened against the U.S. dollar similar to earlier price depreciation that took the cross rate from the lower boundary of its long-term consolidation to test the upper boundary. Fluctuations were between 8,300 and 12,400 levels. It is now the 4th time […]
Since July 2012 both indices respected their 50-day moving averages. Over the past 5 months MIBTEL and IBEX 35 rebounded twice from their 50-day moving averages. Given that the latest uptrends formed clear trend channels with their lower boundaries overlapping with the 50-day moving averages, we can conclude that any breakdown below these critical support levels could deepen the short-term corrections. […]
Here are some of the charts that I shared on twitter. Compass Group had a strong breakout. Stock should move higher in the following days. This was a 7 month-long consolidation range. #FTSE COMPASS GROUP (CPG.L) breaks out of a 7 month-long flat consolidation range. Low volatility set-up. Bullish. pic.twitter.com/EB8YdYSRwK — Aksel Kibar, CMT (@TechCharts) […]
16,000 level becomes more important for Japan’s Nikkei 225 index as the benchmark reaches the decade-long trend resistance. In May 2013, Nikkei 225 had a spike and tested the long-term resistance area. Sharp pullback to the 200-day average followed right after the strong rally. Now, the index is trying to reach the same trend resistance. To […]
I analyzed Cocoa prices in October and drew attention to the strong horizontal resistance at 2,800 levels. That study needs an update now as the price is challenging the strong resistance for a possible breakout. Higher prices could be seen in the following weeks once this base formation completes with a similar breakout that took […]
