Asia-Pacific Markets Charting Asia with Daryl Guppy


  Thursday, 5 Aug 2010 | 12:57 AM ET

Next Few Weeks Crucial to Plot Shanghai's Direction

Posted By: Daryl Guppy

The Shanghai Composite Index's recent breakout above the 2480 resistance level has been very strong, and there is high likelihood the uptrend will continue. However, it must be said that the index's chart shows a confused pattern and this makes it difficult to project current activity and set target levels.

»Read more
  Tuesday, 27 Jul 2010 | 2:55 AM ET

Long or Short BP Stock? Here's What Charts Say

Posted By: Daryl Guppy

Even though BPappears to have plugged its massive oil leak in the Gulf of Mexico, the firm continues to stay in the spotlight, with CEO Tony Hayward stepping down as investors digest a ugly set of quarterly earnings from the oil giant.

BP's stock has lost about half its value since the Gulf disaster in April, or a $100 billion dollars. For investors, is it worth getting in now, or will the stock continue its sell-off?

From a chartist perspective, BP's stock has been the subject of "vulture trading," which pretty much means exactly as it counds. This is a trade that picks on the carcass after the stock's been killed by the market.

»Read more
  Wednesday, 21 Jul 2010 | 1:33 AM ET

Dollar Index to Find Support at 82: Charts

Posted By: Daryl Guppy

In my previous commentary on the U.S. dollar index published in May, I mentioned that the index, which surged in mere weeks then, was primed for a collapse due to the parabolic nature of its uptrend.

The prediction appears to be coming true as the index has fallen rapidly towards 82.

»Read more
  Thursday, 15 Jul 2010 | 1:29 AM ET

Dow May Crash to 7,500 If 10,600 Not Breached

Posted By: Daryl Guppy

Seeing there's been quite a bit of interest in my recent comments on CNBC about the historical parallels between the Great Depression and the recent financial crisis, I thought it may be appropriate to elaborate further on the chart technicals behind the observation.

The causes may have been different, but the collapse of the U.S. markets in early 2008 followed the same behavioral patterns as the collapse in 1929. The recovery pattern seen in 2010, is also very similar to that developed in 1930.

»Read more
  Tuesday, 6 Jul 2010 | 12:30 AM ET

Gold May Weaken to $1,160, Then $1,309: Charts

Posted By: Daryl Guppy

The debate over where gold prices are headed has been a active one, with the bulls maintaining that fears of a slowing global economy will keep demand for the safe-haven investment strong; while the bears argue that the current price of gold, which has limited industrial use, is unsustainable in the long term.

From a chartist perspective, we're looking expecting a bullish scenario in the long term, but not without some selling pressure in the short term.

»Read more
  Wednesday, 30 Jun 2010 | 3:05 AM ET

Dollar-Yen to Hit 97, Euro-Yen to Drop to 90: Charts

Posted By: Daryl Guppy

The Japanese yen has been back in favor in recent months, as continuing worries over the outlook of the global economy boosted demand for the currency.

The yen is hovering at an eight-week high against the dollar, and trading at its strongest level against the euro since 2001.

But a look at the performance charts suggest it may be time to pick up the dollar-yen trade, which is showing a very strong support level between 87 and 88 yen.

»Read more
  Wednesday, 23 Jun 2010 | 3:15 AM ET

Shanghai Index to Fall to 2,300 & 'Rapidly' Rebound: Charts

Posted By: Daryl Guppy

China's stock markets are known for their volatility and not for the faint-hearted investors. Their movements can be rapid in either direction and hard to predict. But a close study of their performance charts have revealed some trading opportunities and the likelihood of a strong recovery.

»Read more
  Wednesday, 16 Jun 2010 | 3:02 AM ET

Oil to Test Historical Resistance, $100 Possible: Charts

Posted By: Daryl Guppy

Oil prices have been on the rise, in tandem with the improving global equity markets, as investors shift their attention from euro-zone debt problems to the generally positive economic indicators coming from the U.S. and Asia.

But an analysis of the oil charts suggests that the rebound is also technically driven.

The oil market usually shows a pattern of trending behavior between well defined historical support and resistance levels.

»Read more
  Tuesday, 8 Jun 2010 | 12:14 AM ET

Next Support Levels for Euro: $1.16, then $1.03 — Charts

Posted By: Daryl Guppy

It's just a few weeks since my last note on the euro-dollar but I think an update is appropriate given the continued battering of the single currency.

I mentioned in the previous chart analysis that the euro could fall quickly to $1.03 once the $1.19 mark (a particularly significant support level in 1998 and in 2003) has been breached, which happened on Monday.

The fall towards $1.03 may feel like a freefall plunge, but it is constrained by other technical features.

The euro is defined by a series of support and resistance bands. The positioning of these bands is important from an analytical perspective because it provides a method to project the future downside targets.

»Read more
  Wednesday, 2 Jun 2010 | 3:02 AM ET

Aussie to Stay Under Pressure for Awhile: Charts

Posted By: Daryl Guppy

When the Australian dollar stumbles, it often stumbles badly. This makes the AUD/USD a difficult trading situation because when a collapse occurs, the AUD tumbles quickly.

Investors hoping for a rebound of the Aussie to beyond the $0.90 level may be disappointed. Chart analysis shows this is unlikely to happen for awhile.

»Read more

About Charting Asia with Daryl Guppy

  • Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia. He runs training, analysis and resource workshops for retail and professional financial market traders involved in stocks, CFDs, warrants, derivatives, futures and commodities in China, Malaysia, Singapore and Australia. He has his own trading company,


  • Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia.