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's long-term target is near 2,760.
The 12,600 target for the Dow is achievable in January 2012.
There is a reasonable probability the U.S. dollar index will fall below 74.50 and retest the lower edge of the base of the symmetrical triangle pattern near 72.50. Traders will look for a consolidation pattern to develop between 72.50 and 74.50.
The euro/yen chart has multiple features which suggest a downside target near 107.
An opportunity can be found in every market, not just in the markets your look at regularly. This is one of them.
Despite its short-term behavior, the long-term outlook for oil is bullish with medium term targets at $58.
The Dow chart has two significant chart patterns and they combine to limit the Dow rally in the short-term.
Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia.