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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 […]
It has been a difficult month for the emerging market currencies and especially for the Indian Rupee. Sharp depreciation of the currency and rising yields have caught the attention of the mainstream media. Tech Charts frequently updated the outlook on the rupee starting from 55 levels. While the Indian currency had a sharp depreciation, equities held well and moved […]
Earlier in May, Tech Charts blog followers read three different updates on the USD/INR suggesting strong U.S. dollar versus the Rupee (May 7, May 13, May 28). Since then the cross rate had a strong breakout and entered into a parabolic upward move. Over the past month price reached a strong trend channel resistance between 65 […]
Another emerging market currency that is weakening against the U.S. dollar is Indian rupee. Recent update on the 7th of May drew attention to the possibility of a strong breakout from the low volatility period. USD/INR is now close to 55 levels; last minor resistance before the cross rate targets 56-58 area. Technical outlook is bullish for […]
Breakouts from contracting ranges are usually very powerful. The longer the consolidation period the more powerful the breakout is. In the case of USD/INR we are getting closer to a strong breakout from the year-long consolidation range. Breakout above 55 levels will be bullish for the U.S. Dollar and will target 57-58 area on the […]
India’s Sensex Index might be forming a major top reversal (Head & Shoulder Top) in the past two years. The length of the distribution period makes this pattern significant. 3 important technical levels showing strong resistance at 18,000 levels. These are; 200 day moving average, horizontal resistance (green line) and the downtrend channel. H&S pattern will […]
REVIEW The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its long-term H&S bottom price target at 109 levels. Price is clearly above the long-term average and the uptrend is intact. The ETF with this week’s strength breached its minor high at 110.45 levels. 110.45 levels […]
I start my research on Mondays and finalize by end of day Thursday. Friday is dedicated to putting all ideas to the report format. During the week I come across good setups and those are featured in the weekly report. However, there are those that pop up during the week and is worth bringing to […]
REVIEW The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its long-term H&S bottom price target at 109 levels. Price is clearly above the long-term average and the uptrend is intact. The ETF is testing its minor high at 110.45 levels which can act as short-term […]
REVIEW The benchmark for the Global equity markets performance, the iShares MSCI All Country World Index ETF (ACWI.O) reached its long-term H&S bottom price target at 109 levels. The ETF earlier completed a bullish flag which has helped the uptrend resume higher. The ETF breached the lower boundary of the short-term uptrend and this resulted […]
