Michael_Macdonald-XATSUK

Michael_Macdonald-XATSUK

Eyes are on Boeing at the moment, following President-Elect Trump's remarks on the possible future of Air Force One. It is worth noting that Boeing is already looking overstretched at current levels - momentum studies are overbought and prices are now trading in the historic distribution top from 2015-2016 - and risk/reward is turning lower. Could Trump's...

Michael_Macdonald-XATSUK

The sharp rejection of the October highs is attempting to stabilise above USD113.00. Consolidation is highlighted in the coming week or so, but the fall in momentum studies and deterioration in sentiment are likely to keep prices under pressure into the beginning of 2017Q1. Also, from a relative perspective, Facebook is also underperforming the US Technology...

Michael_Macdonald-XATSUK

I'm not a fan of Head and Shoulders patterns - inverted or otherwise - but many people will have noticed the formation in the FTSE100 and will be waiting for the break down. Whilst oversold stochastics could promote further right shoulder development, the eventual break will likely target 6400/50 as profit-taking pressure increases. Would Victor be a seller?

Michael_Macdonald-XATSUK

Risk/reward turning lower in the Technology sector as monthly charts show early signs of distribution. Momentum studies are unwinding overbought areas, suggesting increased profit-taking risks in the coming weeks. A close below the USD45.86 low of September would add extra weight and open up the USD44.00~ break level.

Michael_Macdonald-XATSUK

Rotating lower with falling momentum. Daily charts are also unwinding, suggesting profit-taking and a sell-into-strength strategy. Focus expected to turn to Fib supports within 2160/80~

Michael_Macdonald-XATSUK

As with Ensco Plc, we are also seeing early signs of base completion in the Transocean Ltd RIG chart. Unwinding positive divergence and improving momentum readings, against a strengthening Energy Index, point to a significant rally in the coming months. Day traders will likely be faced with heightened volatility, but as a core component of a thematic idea, long...

Michael_Macdonald-XATSUK

As the underlying US Energy Index gathers fresh upside momentum, there are signs of improvement appearing in Ensco Plc. The multi-month basing pattern is showing early signs of bullish resolution, as oversold momentum studies and positive divergence begin to unwind Whilst trading could become choppy in the coming weeks - to be expected following prolonged basing...

Michael_Macdonald-XATSUK

The fall from the July high is gathering momentum, with prices extending lower into the end of the year. This is keeping both Gold and Silver under pressure, suggesting investors will maintain an underweight stance. Whilst prices are also weakening relative to the broad based Commodities Index, managers are now moving cash into both Base Metals and...

Michael_Macdonald-XATSUK

A short Tweet asked if Warren Buffet is buying the Airlines. Regardless, it seems to gathering upside momentum. A break above the USD277~ range highs is needed to shake out the shorts.

Michael_Macdonald-XATSUK

The underlying bullish trend remains intact, as prices post new highs. Momentum studies are already overstretched, however, but downside risks are likely to remain limited as monthly studies remain strong and investors maintain a buy-into-dips strategy. JP Morgan is also outperforming the SP500, and as a proxy for the broader based US Financials Sector, asset...