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. He is a special consultant to AxiCorp.
The NYMEX oil market is attractive for traders. The primary danger for trading this market is the volatility of price retreats from resistance levels. .
The DOW faces significant resistance barriers which place limits on the upside in this market.
The real threat is that Germany could walk away before being dragged down too and the impact of this is seen on the long term monthly euro chart.
The key question for the Shanghai Index is its ability to successfully test support near 2,140, which was created in December 2011 and January 2012. This is a critical level. Failure of support at 2,140 confirms the continuing strength of the downtrend and sets a new downside target near 2,000.
Earlier this year, the developing chart pattern for the Australian dollar suggested a $1.18 target. This failed to develop, so what went wrong?
Investors have been piling into Treasurys in recent weeks, boosting the dollar. In a sale on July 9, the U.S. Treasury sold three-month bonds at minus 0.005 percent, and six-month bonds at minus 0.006 percent. The Treasury says it's the first time they have registered negative yields. This takes place in the context of a temporary pause in the Euro-zone problems.
Both the Dow and S&P are expected to rise over the next three months, but while the upside in the Dow is limited the S&P could soar.
A combination of chart features paint a bearish picture for Euro Stoxx 50.
As much as many traders think gold should go up the weekly chart of Comex gold suggests there are some serious barriers to a price rise back to $1,750 an ounce or $1,850.
The trend is bullish despite a pause for the Shanghai Composite index, technical analyst Daryl Guppy says.
There's no question that the Aussie strength is a direct consequence of weakness in the U.S. dollar, Daryl Guppy writes.
The U.S. dollar index is testing a critical support level of a long-running trading band that is likely to hold for now.
The Shanghai index is developing some of the characteristics of a trend reversal, Daryl Guppy writes.