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. He is a special consultant to AxiCorp.
The Australian stock market has been trapped in an investment-numbing sideways trend for the past six months. But chart pattern anaysis shows that a breakout for the S&P ASX 200 is imminent, with the next target at 4,700.
The general trend pressure for cotton prices is bearish and this suggests continued testing of support near 85 cents a pound.
The Apple chart shows an unsustainable rally. This doesn’t mean that traders cannot make money, but it does suggest that investors buying in the current market will have to ride a short-term loss before the long-term trend carries them into profit.
The similarity in the patterns on the gold and silver charts means the silver price follows the gold's behavior.
The rally in the Australian dollar has technical limits that could cap its rise.
The potential for a rebound in the dollar has increased in the run-up to the presidential inauguration day.
Oil prices developed a recovery in 2016 but will this continue in 2017?