Recent msturdy's Commentaries
US Dollar Index Stuck On 76.4% Support
Earlier this year a half-hearted recovery attempt came to naught. The US Dollar Index is currently resting on a 76.4% retracement support –we wait to see if this provides a launch pad for a fresh recovery attempt. WEEKLY CHART Earlier support came from the bear channel base projection, following ...
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Tags: dollar-index
Sugar Recovery Still Unable to Overcome...
After a recent s/term setback in Sugar an ensuing recovery has found resistance at previous levels. We wait to see if a more lasting pullback phase will get underway should prices keep easing. WEEKLY CHART –CONTINUATION The recovery from support near to the old 2006 high looks to be faltering on ...
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Tags: futures | sugar
Gold's strength and vulnerability
WEEKLY GOLD CHART The market’s run from the hesitation and pause at the 1980 high is clear. The resolution of that pause was the creation of a Head and Shoulders continuation pattern. That catalyst set in motion the next leg of the market. The bull momentum has been maintained by two more co...
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Tags: gold
USD/ZAR Poised To Make Better 2011 Recovery
After an early, short-lived recovery attempt this year market action has been fairly directionless. A recent fresh rebound off 2011 support has turned attention to key resistance levels which are the portal to a better recovery phase. WEEKLY CHART: Support this year has come above the 6.4000 Nov-...
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Carbon Emissions Rebound From Dual Fibonacci...
The sharp price reversal in EUA Carbon Emissions from the May high sidelined earlier bulls. Finally interesting support has emerged from two adjacent Fibo levels, prompting a bounce. WEEKLY CHART –CONTINUATION Following support from around the 10.45 76.4% retracement level, which saw a virtual ke...
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Tags: fibonacci
Oil looks weak
If the developed economies of the US. Euro zone and UK fall into recession, oil demand will weaken. The oil price over recent weeks has begun to price that in, but has it gone far enough? TECHNICALS: WEEKLY CHART The market’s medium-term rally over the last two years from the $40 supports (establ...
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Tags: oil | futures
Temporary Halt Seen in USD/CHF ‘s Slide
USD/CHF has been grinding lower through 2011 and recently the pace accelerated. A s/term halt and sharp rebound has followed, but at the moment this could only be temporary. WEEKLY CHART: The downtrend recently neared the 2.618 swing projection off prior Nov-09/Jun-10 upmove, at 0.6975. Following...
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Tags: forex
Copper Back at Pivotal Support Area
The May/Jul recovery in Copper prices, from earlier Fibonacci support, stopped short of the Feb high and, now, the recent quick reversal has seen the market return to key supports on the daily and longer term charts. WEEKLY CHART -CONTINUATION Earlier support came from around a 38.2% pullback lev...
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Tags: futures
Pullback In AUD/USD Hits Key Support Area
After reaching a target on the long term chart AUD/USD has pulled back smartly, testing a pivotal Fibonacci support area. Bears will strengthen their ranks on a break of this. MONTHLY CHART: Note how clear resistance has been found at an equality target we had marked in in the FX Specialist Guide...
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Tags: forex
Crude Oil Seeping To Lower Levels
The strong rally in Brent Crude in July put bears on a cautious footing. However, a decisive reversal at Fibonacci resistance has kept the medium term bear outlook intact. BRENT WEEKLY CHART -CONTINUATION Earlier support around a 38.2% pullback level has now been breached. This provides a boost t...
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Tags: futures | crude-oil
The opportunities in UK Gilts and US Bonds
Uk and US bond markets are set to go higher having overcome their Prior All Time Highs and in the case of the Uk Gilts, good clear powerful continuation patterns are on the verge of being completed... MONTHLY UK GILT CHART The market has overcome the important Pivot at 124.95 from 2002- and wher...
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Tags: us-t-note | gilts | bonds | futures
The anxiety of the S&P bulls
WEEKLY CHART The market has stumbled since the beginning of the year. Three times it has tried to get back above the first High made in February of 1332.60. So, a small triple top or even a Head and Shoulders reversal may be on the cards…. But in the context of the big bull run from the beginnin...
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Tags: sandp-s-and-p | s-and-p | futures
Will Key 38.2% Support in GBP/USD Last?
Following the late April high in GBP/USD the subsequent slip back found good support from a key 38.2% area, with recovery then triggered. But after recent resistance the key support could once more come under scrutiny. WEEKLY CHART: The previous break through falling resistance was bullish –but a...
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Tags: forex
Silver Recovery Set To Continue
The earlier 2011 fall back in Silver prices found interesting Fibonacci support on the daily and longer term charts and, now, the initial recovery looks well-placed to further satisfy shorter term bulls. WEEKLY CHART -CONTINUATION The sharp drop back earlier in 2011 has found support close to a 3...
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Tags: silver | fibonacci
EUR/GBP Picture Not Yet Clearly Bullish
Following new 2011 highs recently the EUR/GBP cross rate has slipped back from long term resistance. Key supports are coming under scrutiny, the first of which being a 38.2% pullback level. WEEKLY CHART: The earlier breach of falling resistance looked to be a positive sign but note how the old ri...
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Tags: forex
