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Asia-Pacific Markets Charting Asia with Daryl Guppy

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  Tuesday, 14 Nov 2017 | 11:18 PM ET

US oil trading band causes a ripple in a market looking for a breakout

Posted ByDaryl Guppy

The NYMEX breakout above long-term resistance near $54 a barrel for crude oil has caused a ripple of excitement in what has been a largely moribund market in West Texas Intermediate for nearly 18 months. Sure there were trading opportunities in the rallies and retreats between $43 and $54, but slow-moving volatility doesn't make for good trading.

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  Tuesday, 7 Nov 2017 | 11:31 PM ET

Australia's benchmark index is poised for further gains, analysis show

Posted ByDaryl Guppy

Australia's benchmark index, the S&P/ASX 200, has finally broken out from the prolonged trading band which had dominated the market for more than a year.

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  Tuesday, 31 Oct 2017 | 2:30 AM ET

The Nikkei 225 is poised for more gains — even as Abe's arrows fall short

Posted ByDaryl Guppy

Japanese Prime Minister Shinzo Abe famously launched his three arrows in the fall of 2015. They seemed to achieve nothing for Japan's economy, apparently fluttering to earth, and the media lost interest.

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  Sunday, 22 Oct 2017 | 11:19 PM ET

An Aussie rebound depends on dollar momentum, technical analyst says

Posted ByDaryl Guppy
John Phillips | Digital Editor | CNBC

The Australian dollar has slipped from a peak of $0.81 to a low of $0.79 before developing an uncertain rebound.

Can the Australian dollar find genuine support near $0.71 or is Australian dollar weakness going to continue to develop? This is the first question traders are asking.

Alternatively, is the underlying uptrend strength solid enough to develop a sustainable rebound and breakout above resistance near $0.81? This is the second question, usually asked by investors with a longer-term view of the market.

It is difficult to ignore the performance of the dollar, as Aussie strength is often a direct consequence of weakness in the U.S. currency, which had fallen recently to $0.91 on the dollar index chart.

The mild dollar recovery to $0.93 has coincided with the weakness in the Australian dollar.

Although the Australian dollar may be driven by the strength of the dollar, it is the behavior of the Aussie that sets the breakout targets.

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  Monday, 16 Oct 2017 | 9:21 PM ET

Buy the Dow index on any dips, technical trader says

Posted ByDaryl Guppy

What is it going to take to stop the relentless uptrend in the Dow? This is an important question because the answer tells traders if it is time to tighten stops and get ready to exit, or buy the dips in anticipation the uptrend will continue.

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  Monday, 25 Sep 2017 | 11:31 PM ET

What technical analysis is showing about South Korea's Kospi now

Posted ByDaryl Guppy
Monitors in a dealing room of KEB Hana Bank in Seoul, South Korea, on Monday, Sept. 4, 2017.
SeongJoon Cho | Bloomberg | Getty Images
Monitors in a dealing room of KEB Hana Bank in Seoul, South Korea, on Monday, Sept. 4, 2017.

The Kospi trend remains astounding, and despite the pullback, the trend strength remains intact. This remains an exceptionally strong trend and traders and investors were alert for consolidation and retracement behavior.

The Kospi is analyzed using trade band analysis. The width of the prolonged sideways trading band is measured and this value is projected upwards to give the breakout targets.

The most optimistic chart-based targets have been achieved with the index above 2230 and 2400. The same trade band projection methods can be applied to set the next upside target. This sets a target near 2560. This is a very optimistic target and despite the trend strength, its unlikely this target will be achieved quickly.

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About Charting Asia

  • 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.

 

  • Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia.