RL 130.50 – neutral – Expects range-bound price action under 141.93/141.03 RL recovered from the 103.29 low (September 2015) to offer scope for a return towards the 141.03/141.93 resistance zone (June 2015 high/May 2014 low) which may cap the bounce. A downside reversal below 111.65 (50% of the 31.22/192.03 rise) then 103.29 would risk further losses towards...
GBPUSD 1.5227 – bearish – 4-week range breakdown points lower GBPUSD broke below a 4-week triangle range (from October 13low/October 15 high) to suggest topping and trigger further weakness towards the key support cluster including 1.5199 (October 13, 2015 low), the 1.5169/1.5163 lows (June 1/September 4, 2015) and 1.5107 range low (September 30, 2015) and 1.5086...
WBAI 20.52 – bullish – Bases under the 22.37 2-month high WBAI rallied strongly from the 10.88 weekly low (August 24, 2015), following the falling wedge breakout, to reach a new 2-month high at 22.37 (October 12, 2015) before basing. The indicators on the daily timeframe are neutral, hinting for further basing. The 19.03/18.71 area (October 12/19, 2015 weekly...
NOAH 27.56 – bullish – 20/50 week moving averages underpin as support NOAH rallied strongly from the 18.66 weekly low (August 31, 2015) to reach a new 3-month high at 28.91 (October 12, 2015). The indicators on the daily timeframe are neutral, hinting for further consolidation. The 25.60 area (October 12, 2015 weekly low) above the converging 20/50 week moving...
QIHU 57.26 – bullish – Scope for higher towards falling channel resistance QIHU rallied strongly from its 41.64 YTD low (September 14, 2015), near 12-falling channel support (as seen on the weekly chart) to reach a new 2-month high at 59.00 Thursday (October 29, 2015). The indicators on the daily timeframe are overbought, cautioning for pullbacks. The 53.61 low...
VIPS 20.26 – neutral – Bulls retrace 38.2% of the April/August fall VIPS rallied strongly from its 14.68 YTD low (August 24, 2015), following the 6-month downtrend breakout (on September 28, 2015), to reach a new 2-month high at 20.84 Tuesday (October 27, 2015), near 38.2% of the 30.72/14.68 fall, before basing. The indicators on the daily timeframe are...
BABA 81.27 – neutral – Bases near key resistance area BABA rallied strongly from its 57.20 YTD low (September 29, 2015), following the 12-month downtrend breakout (on October 23, 2015), to reach a new 3-month high at 85.79 Tuesday (October 27, 2015), near 38.2% of the 120.00/57.20 fall and the 200 day moving average currently at 81.05, before basing. The...
AMZN 611.92 – neutral – Consolidates above key support area AMZN rallied to a new record high at 619.45 (October 23, 2015) before consolidating. Overbought indicators warn of potential for further pullbacks. While the 580.57/579.00 key support area (July 24/ October 19, 2015 highs) holds the dips, there is scope for further upside through 619.45 to open new...
USDCAD 1.3131 – neutral – key support cluster area on the daily chart Support levels: 1.2832 (October 15, 2015 swing low) 1.2685 (200 day moving average) 1.2686 (50% of the 1.1919/1.3457 rise) and 2-month rising trendline (from August 29, 2015 low) Resistance levels: 1.3457 (September 29, 2015 YTD high) 1.3470 (61.8% of the 1.6184/0.9059...
USDCAD 1.3131 – neutral – Consolidates under key retracement level USDCAD reached the 1.3457 multi-year high (September 29, 2015) near 61.8% of the 1.6184/0.9059 entire fall (1/2002 high/11/2007 low) before consolidating. The 1.2832 area (October 15, 2015 low) and then 1.2476 (July 1, 2015 low) are supports on pullbacks on the long-term chart. However, renewed...
USDCAD 1.3131 – neutral – Consolidates under key retracement level USDCAD reached the 1.3457 multi-year high (September 29, 2015) near 61.8% of the 1.6184/0.9059 entire fall (1/2002 high/11/2007 low) before consolidating. The 1.2832 area (October 15, 2015 low) and then 1.2476 (July 1, 2015 low) are supports on pullbacks on the long-term chart. However, renewed...
SPX (S&P 500 Index) 2071.0 - bullish - Rallies above key resistance zone SPX rallied strongly from 1871.91 (September 29, 2015 low) to probe above the 200 day moving average, 4-year rising trendline (from October 2011 low) and 76.4% of the 2132.82/1871.91 fall, posting a new two-month high at 2079.74 (October 23, 2015, as shown on the daily chart), before...
EURUSD bearish – Rising channel breakdown points lower EURUSD slumped from the 1.1488/1.1494 tweezer top (October 14/15, 2015 highs) to break below 7-month rising channel support (as shown on the daily chart), signaling an end to the 7-month consolidation since the pair reached the 1.0419 YTD low (March 13, 2015). Further weakness open the 1.0807 support (July 20,...
SCHW 29.33 – neutral – Falling wedge breakout triggers further upside SCHW rallied through 2.5-month falling wedge resistance (from August 6’s 35.72 peak) to confirm a wedge breakout. In the meantime, breaking above the 28.80 range ceiling (October 16, 2015) completed a 5-week base over 26.40 (October 2, 2015 low), triggering further upside towards 30.45 (76.4%...
AMZN 557.84 – neutral – Bearish evening star signals further pullback AMZN rallied to 579.00 Monday (October 19, 2015 high), shy of the 580.57 record high (July 24, 2015). Subsequent sharp drop forms an evening star reversal pattern, signaling scope for further pullback towards 549.78 (September 22, 2015 range high) and then 539.68 (October 14, 2015) near the 20...
AAPL 113.79 – bullish – Range breakout triggers further upside AAPL rallied through the 20/50 day moving averages and then the 112.75 range ceiling (October 12, 2015) to confirm a 3-week range breakout. The 20/50 day moving averages now reverts to support, underpinning further upside towards 116.89/117.65 (September 14/August 17, 2015 highs) near 61.8% of the...
V 77.01 – bullish – Posts a new record high amid negative divergence V rallied strongly from 67.03 (September 28, 2015 low) to post a new record high at 77.31 Monday (October 19, 2015), passing July’s 76.92 peak (July 20, 2015). With the overbought indicators showing potential negative divergence, caution is warranted for pullbacks. Further gains would open the...
AUDJPY 86.72 – neutral – Forms a 4-day symmetrical triangle AUDJPY is forming a 4-day symmetrical triangle (as shown on the daily chart). An upside break above 87.50 (October 15, 2015 high) would signal return of strength and firm for 88.61 (October 12, 2015 high). Clearance above there would accelerate the current 3-week rally towards 90.13 (76.4% of the...