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.
More people are dabbling in technical analysis without really understanding what is involved.
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.
Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia.