#Copper (HG) putting in a good year end performance. Price up +60% from Feb'16 lows. Good fundamentals for more upside into 2018? #LME 7000 level will be a tester (approx 3.18 HG)?! Resistance 3.27 then 3.58?? Support 2.96? #Renko
#Copper (HG) on the turn? (+0.71% this morning) Or will it find resistance around the 61.8% Fibonacci at 2.8130? Hitting a lot of price noise at current levels 2.9845 (approx mid 6500's in #LME world). Good fundamentals / relative value upside play?
Has the #nikkei 225 recent spectacular bullish run come to an end, or just taking a breather before moving higher again? Momentum currently bearish as approaching psychological 22000 number. Cur trading 22028
#Brazil #Bovespa turning back to strength after recent pullback? Resistance at highs around 77000 then if can hold & break 81000's?! Feels like a lot of hard work to me! Support if reverses down around 69000 area?
#LME #Copper at $10000? May take some time getting there!? A lot of noise in between! Fundamentals are starting to fall back in place once more though. Got to crack the 7000 barrier 1st (approx 3.1/3.2 on #HG). Nice longer term pattern forming on #Renko ? Cur trading 3.075
Emerging Market currencies: CZK, HUF, RON all showing correlated strength versus the USD. Possibly all about to hit resistance levels - interesting to see how they react and if they can maintain their strength.
Chart of the day: Soybeans
The sell grains buy beans trade, might not be as pronounced as normal, with Corn and Wheat looking a bit flat. Soybeans though on the flip side has been putting in some strength over the last week after bouncing off key resistance at 929. Fundamentally looking like its in a better place with stronger exports and help from a strong...
Amazon Inc building up pressure on the Kagi chart once more to break out of top and to move further north and target the magic 1000 level, then possibly Fibonacci projection at 1300 in the medium term? Strong technical downside support at 850?
The Australian Dollar has been giving back strength since mid March'17 as commodity prices have disappointed and major business partners like China have shown a lesser appetite for Australian products and resources.
In the longer term momentum looks weak with the possibility of price now it looks to have broken some key Fibonacci / resistance levels possibly...
Coffee Arabica: Expected price volatility around bad weather conditions are currently balancing the potential massive crop coming out of Brazil for next year. A head and shoulders pattern has formed and would have a possible longer term target price of 89. Price may find short term resistance at 126 then 118. Upside support may be found at 136 then 143.
GBP putting in some strength over March / April - could this be signs of things to come? Really needs to break out of the 1.20 / 1.29 range and hold above current levels if it is going to push any higher. There's enough fundamental events in 2017 to give it that kick it needs though. Possible upside targets in the shorter/medium term: 1.37 then 1.44 and if it can...
Taiwan Dollar is maintaining its strength versus the US Dollar since the beginning of 2017 and holds the longer term bearish trend. A head and shoulders pattern has formed on the weekly chart but is as yet complete. The 30 level could prove significant resistance and if it can break here, then 28/29 could be a potential further resistance level. Upside support may...