Today's interesting charts
Comment of the Day

May 27 2011

Commentary by Eoin Treacy

Today's interesting charts

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Eoin Treacy's view Euro Stoxx Banks Index - upside key day reversal three days ago checked the decline at least temporarily. It will need to rally further to break the four-month progression of lower rally highs and indicate a return to demand dominance.

Corn - continues to pause below the 2008 peak near 800¢ but has sustained the progression of major reaction lows and remains above the 200-day MA. A sustained move below 650¢ would be required to check potential for a successful upward break.

Siemens - remains in a consistent medium-term uptrend and has just completed a reversion towards the 200-day MA. The upside can continue to be given the benefit of the doubt provided it continues to hold above the MA.

Starbucks - continues to post consolidations one above another and an MDL stop near $31.50 would need to be triggered to begin to question medium-term uptrend potential.

Vietnam - accelerated lower on consecutive days from mid May but found at least short-term support yesterday and posted an emphatic upside key day reversal. It has followed through today and a sustained move below 380 would be required to check potential for a further unwinding of the short-term oversold condition.

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