Today's interesting charts
Eoin Treacy's view Euro
Stoxx 50 -
key
day reversal from the region of the upper side of the range probably caps
the short-term advance and signals the onset of reversionary process towards
the 200-day moving average.
S&P500 - first downward dynamic
since early February and from the region of the psychological 1200 level fires
at least a warning shot across the bow of the 10-week advance. A mean reversion
reaction, defined by the 200-day MA, has probably begun and a sustained move
to new recovery highs would be required to reassert the medium uptrend.
JP Morgan
- begins
to encounter resistance
in the region of the previous peak following 10 consecutive weeks to the upside.
Some consolidation of recent gains appears likely but a sustained move below
$40 would be required to question medium-term upside potential.
South African Rand per 1 US Dollar - the Dollar
finds support
in the region of the lower side of the range and bounces. A sustained move below
ZAR7.15 would now be required to hinder scope for further higher to lateral
ranging towards ZAR8.
Crude
Oil - continues
to pull
back from the high near $87 and needs to sustain a move above that area
to limit potential for continued lower to lateral ranging.
Palladium - downward dynamic
probably caps the most recent part of the uptrend. However, a sustained move
below $445 would be required to break the progression of higher reaction lows
and question the consistency of the medium-term uptrend.