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 oil price is the foundation for inflation. The NYMEX oil chart shows the next target for oil is near $124. The chart also shows a new pattern of price behavior. This pattern often ends with a sudden price retreat and Osama Bin Laden’s death may be enough to create these conditions.
The technical analysis of the euro-dollar suggests further strengthening of the single currency will the next resistance level at $1.49.
That the market will fall, and fall rapidly is a given. The key question is how far the market may fall before it finds support. The reaction to the Kobe earthquake provides some clues.
Which is better – gold or silver? Often consigned as an industrial metal with limited value, silver has outshined gold in the past 18 months. But the metal has the makings of a speculative bubble, charts suggest.
Oil continues to be the front and center of investors' focus this week, with nymex crude surging beyond the $100/barrel mark as unrest in the Middle East sparks concerns about possible supply disruptions. There are six significant factors to bear in mind as we examine the West Texas Crude (WTC)price chart.
Will dollar strength continue? It's a question most effectively answered with chart analysis of the dollar Index.
The recent rally from near $1.05 remains part of the strong downtrend move towards the $1.00 support target.
The long, steady decline of the Australian dollar – and the Australian economy – continues.
The Dow Jones industrial average has developed a strong and powerful reversal pattern, which means bullish analysis must be revised.
Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia.