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Asia-Pacific Markets Charting Asia with Daryl Guppy

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  Wednesday, 2 May 2012 | 12:08 AM ET

Uptrend for Oil Intact; $125 Is Next Target: Charts

Posted ByDaryl Guppy

Has the upward momentum pressure for oil prices disappeared? The NYMEX oil chart seems to have done very little in the past few weeks with the price stuck in a trading range near $104 to $105.

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  Tuesday, 24 Apr 2012 | 12:01 AM ET

Gold Upside Capped at $1,800 Despite Bullish Factors: Charts

Posted ByDaryl Guppy

The Dow Index is slipping below 13,000. The U.S. dollar Index is hovering near 80 in a weak symmetrical triangle pattern. The euro/dollar continues in a downtrend with more weakness developing. All these factors should be bullish for gold.

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  Tuesday, 17 Apr 2012 | 12:10 AM ET

Euro to Trend Lower With Support at $1.24: Charts

Posted ByDaryl Guppy

The euro-dollar weekly chart is dominated by a strong and well-established downtrend that has been in place starting May last year, from the high at $1.49. This downtrend line was tested in September with a high near $1.45 followed by a retreat. The current rally to near $1.34 has broken from the trend line area. This behavior suggests continuing weakness in the euro. There is no evidence that the euro can strengthen and move above the established downtrend line.

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  Monday, 9 Apr 2012 | 11:48 PM ET

Limited Upside for Dollar-Yen Beyond 84: Charts

Posted ByDaryl Guppy

The dollar-yen chart shows a high degree of success in the Japanese central bank defense of 76 yen as a support level. It’s unusual for a central bank to be able to draw a line in the sand and successfully defend it. Usually this type of defense is a signal to go short but in this case the shorts were burned.

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  Monday, 2 Apr 2012 | 8:40 PM ET

Aussie Stocks Headed for Breakout, 4,700 Is Next Target

Posted ByDaryl Guppy

The Australian market has been trapped in an investment-numbing sideways trend for the past six months. The resistance level at 4,300 on the S&P ASX 200 has proved almost impossible to crack despite frequent attempts. The breakout above 4,300 is exceptionally important for two reasons.

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  Monday, 26 Mar 2012 | 11:35 PM ET

Dow to Extend Rally to 13,900: Charts

Posted ByDaryl Guppy

The defining feature of the Dow Jones Industrial Average is the extended support/resistance trend line, which is a projection of the head and shoulder pattern that developed in the middle of 2011. This is the support feature, which will help define the nature of the continued rise in the Dow.

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  Sunday, 18 Mar 2012 | 11:45 PM ET

Oil Rally to Continue, Next Target $125: Charts

Posted ByDaryl Guppy

The NYMEX weekly oil chart has developed a mid-trend inverted head and shoulder continuation pattern. This suggests that the uptrend of the past few weeks has a high probability of continuing. The head and shoulder pattern is also used to calculate price targets using a measured move.

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  Tuesday, 13 Mar 2012 | 7:41 PM ET

Cotton Trend Bearish, Could Fall to 85 Cents/Pound: Charts

Posted ByDaryl Guppy

Fine Cotton was the name of an unimpressive racehorse in Australia. The poorly performing horse was replaced with a much superior look-alike substitute, which won a major race at long odds. The same switching tactics have been seen with the Indian government position on cotton export sales and the results are very similar. It has little impact on the fundamentals of the market.

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  Tuesday, 6 Mar 2012 | 6:23 PM ET

Apple Rally Not Sustainable: Charts

Posted ByDaryl Guppy

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.

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  Tuesday, 28 Feb 2012 | 10:06 PM ET

Shanghai Rally Has Further Upside of 6%: Charts

Posted ByDaryl Guppy

The Shanghai Index has staged a powerful breakout from a severe long-term downtrend. The breakout overcame two significant resistance features. The first feature was the strong resistance level near 2,300. The market consolidated around this level as the breakout developed.

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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.