Today's interesting charts
Eoin Treacy's view Oil -
forms a large weekly key reversal as it
pulls back to the first area of potential support at the 200-day moving average.
It will need to find support relatively quickly and hold the progression of
rising lows, currently near $70 to sustain
the medium-term bullish outlook.
Nickel
-
having become somewhat overextended relative
to the 200-day moving average, prices pulled back sharply to retest the psychological
$20,000 level and the MA. They appear
to be finding support and a sustained move below this week's low would be required
to question scope for further higher to lateral ranging. .
Palladium
-
pulled back sharply over the last couple
of weeks and has at least paused in the region of the psychological $500; in
a reaction similar in size to that posted in January. A sustained move below
$485 would be required to form a larger
reaction, pull back into the previous range and signal major trend inconsistencies.
Silver
-
recoups almost all of this week's loss
and would need to sustain a move below $17
to question potential for some further higher to lateral ranging.
Taiwan
-
pauses in the region of the 200-day moving
average but needs to hold above 7200 if
the medium-term generally bullish condition is to be sustained.
Singapore
Dollar per 1 US Dollar - the
US Dollar rallied strongly this week to
test the declining 200-day moving average
but needs to sustain a move above it to offset medium-term scope for further
lower to lateral ranging.