Today's interesting charts
Eoin Treacy's view Oil -
breaks the 15-month progression of higher
reaction lows and while the rally from the intraday
lows was impressive, additional upside follow through is required to indicate
a return to demand dominance and to offset scope for a further test of underlying
trading.
Australian
Dollar per 1 Euro -
emphatic weekly key reversal forms the
largest Euro rally since 2008 and a sustained move below AU$1.40 would be required
to question scope for further upside.
Brazil
-
falls back below 60,000 for the first
time since September suggesting that the 7-month loss of momentum is something
more than a pause at the previous high. A sustained move back above the 200-day
moving average, currently near 64000, would be required to question scope for
further downside.
Feeder
Cattle -
pulling back having tested the upper side
of the six-year range. A sustained move back above $118 would be required to
question scope for additional downside.