While the doomsayers are calling oil down to $40 or even $30 a barrel, there are some signs of a turn in the market. This session looks at some of the drivers of the recent slide, and market evidence for a possible turning point.
Have you noticed the silence from all those analysts that were bullish on BHP at $40? Now that the stock is trading around $27.50, they’ve gone to ground. Commodity prices have plummeted, and it’s natural that the world’s largest listed mining stock would pull back. However, the monthly chart below shows the dramatic nature of […]
Please note – there will be no Chart Signals tomorrow – back on Friday. Asia Pacific indices Australia 200 remains in retreat, currently testing Fibonacci support near 5,140 with next potential downside tests near 5,100 then 5,000. Initial resistance on a rebound possible near 5,2300 then 5,275. Japan 225 found support near 16,240 a previous […]
From Trade with Precision’s Craig Cobb: It’s not long now until another year is wrapped up and consigned to the pages of history. For some, this will be a welcome break from their day to day routine and for others it will be a break from the markets. Personally, I love Christmas and any holidays […]
From Graeme Kennerley at Trade with Precision: The USD/SGD is in a strong uptrend with a 50% Fibonacci retracement completed. In this video we discuss the technical reasons for a LONG trade on this forex pair setting up in the opening session.
Asia Pacific indices Australia 200 remains under distribution with resistance falling from 5,275 toward 5,200. Some support has emerged near 5,140 but with RSI still way under 50 and momentum still downward, a retest of the 5,000 round number remains possible. Japan 225 has a major breakdown underway, taking out the 17,000 round number and […]
North American Indices US30 is breaking down again today, taking out 17,490 to complete a 23% retracement with next potential support at the 50-day near 17,280 then 17.185. RSI under 50 and falling indicates downward pressure growing. SPX500 continues to slide, falling below 2,025 to trade near 2,020 with next potential support near 2,000 where […]
With iron ore and oil in the grip of a bear market, the major resource companies are pinning more of their medium term hopes to copper. Here’s a bit of back ground information on this market and some thoughts on the longer term technical outlook for next year.
On Monday (Sunday night), the Tankan manufacturing indices for Q4 are released in Japan, along with Tokyo condominium sales. Weaker industrial production and capacity utilisation numbers this morning have expectations trending down, but the Yen has not fallen with them. This may mean that the weaker reads are already priced in. With no major European […]
Sinking the slipper into the Reserve Bank of Australia is in danger of becoming a national sport. Stripping out those ignorant of the functions and tools of the RBA, most of the remaining criticism, when reduced to its essence, revolves around the inability of the RBA to fully predict the future. This is grossly unfair […]
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- Digby Leask: Thanks Craig---great comments--All the best....
- Michael McCarthy: Hi John - no, Colin has taken a well earned weeken...
- John: No analysis of Asia Pacific indices including Aust...
- Michael McCarthy: Thanks for your thoughts RJ. I disagree with your...
- Michael McCarthy: Hi Jake - thanks for your feedback. I'm not su...
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