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, guppytraders.com.
The Shanghai Index has developed a powerful rally and has moved above the critical resistance level near 3000, says Daryl Guppy.
Janet Yellen used to be decisive but now she not so sure, and that's a gift to traders.
All the steps being taken by the currency pair lead downward, which is great for short-side traders but not so encouraging for PM Shinzo Abe.
Chart patterns suggest that dollar/yen has a high probability of retesting the lower edge of the trading channel near 95.
The Dow retreat was large, but not unexpected. The retreat presented a buying opportunity, but not for a long-term uptrend continuation.
The gold price reached the long-term resistance target projection level of $1,360 before consolidating and retreating.
The euro/yen chart has multiple features which suggest a downside target near 107.
Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia.