Today's interesting charts
Comment of the Day

March 29 2010

Commentary by David Fuller

Today's interesting charts

In a market of over-inflated opinions, price charts are the only reality check that counts.

David Fuller's view Palladium (PL1) - remains the lead precious metal for the bull cycle since October 2008. Although it could not maintain the new recovery highs seen earlier this month, palladium has rebounded to test them once again. A close beneath $440 is currently required to signal more than brief resistance in this region and to further question the overall upward trend.

Copper (HG1) - ranged in a consolidation beneath the psychological 350¢ level before surging to a new closing high today for the uptrend which commenced in January 2009. A close beneath 330¢ would now be required to offset current scope for a further test of prior resistance and instead, to reaffirm prior resistance in this region.

Crude oil (CL1) - strengthened today within a narrow range near the upper side of a trading band dating back to October 2009. A close beneath $78 is required to offset higher scope and instead, reaffirm stronger resistance near these highs.

China Shanghai A-Shares (Shashr) - followed Friday's small upside key reversal with a surge above the early-March high today. A close beneath the last little reaction low near 3156 is now required to question current scope for a further test or overhead resistance.

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