GLOBAL EQUITY MARKETS – November 4, 2017
REVIEW
If there is one theme and well-defined similar chart pattern set ups that I need to highlight, it is in the Gold and Silver mining equities. I discussed the developing chart patterns in an earlier Global Equity Markets report and the Interim update. Whenever similar chart patterns are identified on different equities in the same industry and sector, the price action becomes more important. The Tech Charts Watchlist features some of the well-defined chart setups in the gold & mining equities. In a timely manner, we have also added a new video tutorial for members on Descending Triangle as a bearish reversal chart pattern.
INTERIM UPDATE – November 3, 2017
French auto industry is showing signs of strength and offering major breakout opportunities. September 30, 2017 Global Equity Markets report featured the breakout from a multi-month base formation on the long-term price chart of PEUGEOT AS. This interim update highlights another major opportunity that is taking place in the same industry.
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INTERIM UPDATE – October 31, 2017
Students of charts and mainly classical charting principles have to maintain an unbiased view of the markets. A chart pattern that is identified on a price chart should be the result of pure price action analysis. A global macro view on a commodity or news flow regarding a company can result in second guessing your analysis. Most of the equity traders, unlike FX and commodity traders are used to looking at charts from the long side. In other words, picking opportunities that are breaking out and trending higher. Over the years, I found the method of looking at charts on an inverted scale very useful in order to challenge any biased view I might have. I believe that applying this technique will help you to overcome any bias during your analysis.
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