The anticipated corrective pullback is developing, as momentum studies continue to weaken and the bullish Tension Indicator, not shown, unwinds. The break of the 100.80, (38.2%) retracement of the Nov-Jan rally is opening up critical support within 99.43/85, but this area is expected to underpin immediate tests, as background studies continue to improve and...
There has been no change in the past week, with Global equity markets maintaining a positive tone. The outperformer remains the UK FTSE, as prices continue to post new highs and put focus on strong psychological resistance at 7500. However, overstretched studies continue to warn of elevated profit-taking risks, with further gains expected to prove difficult to...
FTSE continues to strengthen, with the bounce from the 6676.56 monthly low of 4 November posting new highs to pressure the 7340, (150%) projection of the October-November fall. Continuation to the 7395.00 projection cannot be ruled out, but profit-taking risks are increasing at higher levels, as studies remain mature. In the coming weeks, profit-taking risks are...
The anticipated AUD/USD bounce is extending, with prices reaching congestion around 0.7500. A short-term corrective pullback is possible, as overbought daily studies unwind, but rising momentum studies and bullish development on the Tension Indicator, not shown, should limit any setbacks as investors adopt a buy-into-weakness strategy. A break above the 0.7542,...
US Equities remain at elevated levels, with focus on the 2300 psychological barrier and (150%) projection of the 2015-2016 fall. Extension towards the 2332, (161.8%) retracement cannot be ruled out as the Tension Indicator, not shown, continues to strengthen, but overbought stochastics and weakening background readings are expected to make gains progressively...
The anticipated bounce from the USD1123.50 (76.4%) retracement of the December-July rally is unfolding, with Gold prices now approaching USD1200 as oversold studies begin to stabilise. A push above here is looked for, as investors sentiment gradually improves, but the USD1300 break level is expected to prove difficult to reach, as the Tension Indicator (not...
GBPUSD is finding difficulty extending the bounce from the 1.1450 low of October, with fresh sellers appearing just beneath the 1.2795 low of July and 1.2805/10 Fibonacci retracements. Prices are settling into consolidation, as studies turn mixed, but bearish background studies are intact, suggesting fresh downside risks in the coming months. A close below 1.2200...
Global equity markets remain positive into the coming week. Both the US S&P500 and the UK FTSE are printing historic highs, whilst European markets pressure significant resistances. Both the Hong Kong Hang Seng Index and the China Shanghai Composite Index are capitalising on recent gains. However, there are warning signals appearing, suggesting further gains -...
The anticipated corrective bounce is unfolding, as oversold momentum unwinds and the bearish Tension Indicator flattens, with prices pushing above the USD1173~, (23.6%) retracement of the November-December fall to reach USD1184.90. Just higher is the USD1188.10 high of December, but the USD1199.80 low of May and USD1204~ retracement are expected to provide...
FTSE continues to strengthen, with the bounce from the 6676.56 monthly low of 4 November posting new highs above the psychological 7200 level at 7211.96. Continuation to the 7236.25 projection is highlighted, but further gains are expected to prove progressively more difficult to maintain, as studies begin to mature. In the coming weeks, profit-taking risks are...
Sentiment in the USD remains bullish, with the May rally now trading above the 101.80, (61.8%) retracement of the 2001-2008 fall and testing the 103.20 year high of January 2003. Further immediate gains, however, are expected to prove progressively difficult to maintain, as overbought stochastics begin to unwind and the RSI flattens. A corrective pullback is...
The anticipated break lower has been seen, with EUR/USD extending the November bear trend to reach 1.0400. Support is appearing at 1.0350, just above the 1.0330 year low of January 2003, as oversold momentum studies unwind, with a corrective bounce now highlighted as short-covering develops. Congestion around 1.0600 is expected to attract, with a break opening...
AUD/USD is finding support above the 0.7145 low of May, as oversold short-term studies unwind. A corrective bounce is highlighted, targeting the 0.7310 break level from November, but any further gains should find difficulty clearing congestion around 0.7400, as the Tension Indicator (not shown) continues to weaken and mixed background studies keep investor...
US equities are showing signs of a pullback, as overbought studies promote selling pressure above the 2261.75 projection at 2277.53. A corrective pullback is now unfolding, with prices poised to break below the 2232, (23.6%) retracement of the November-December rally towards further support at 2200/04. Risk, however, is for a close below the 2180/86 area, with...
The anticipated break higher has been seen, with the USD index reaching 103.65. A corrective pullback is now highlighted, however, as overbought momentum studies unwind, with a break below the 101.80 retracement opening up congestion around 101.00 and the 100.70 retracement. Still deeper reactions cannot be ruled out, but critical support within 99.43/75 should...
The anticipated test of the USD1124.50 retracement has been seen, with prices showing signs of stabilisation above the USD1122.35 low of December, as oversold momentum unwinds and the bearish Tension Indicator (not shown) flattens. In the coming weeks, short-covering is expected to prompt a corrective bounce, with a break above the USD1165.75 high of 12 December...
Multi-month recovery from USD34.52 February lows gaining traction as prices accelerate higher to pressure critical resistance at the USD60.95 range high of July 2015. In much the same vein as AIG, Citigroup is slowly recovering ground lost during the 2007-2008 mortgage crisis. investor sentiment and momentum studies are slowly improving, suggesting further gains...
AIG was hit particularly heavily in the 2007-2008 mortgage crisis, and whilst other names, such as JPM have managed to recover, American International Group has been a stark underperfromer. There are early signs of improvement, however, as prices begin to push above the critical USD64.93 year high of July 2015, with rising studies suggesting further gains in the...