Good support at 2,100, then 2,075.
Valuation not excessive.
divergence would support a top. But no top yet.
Turn on good support suggests that rates are
bottoming, yet again. Note that the bearish trend is now
37 years old and could continue for a few more. No sign of
reversing. I wouldn't bet against such a mega-trend unless
there were persuasive bottoming over the course of a few
Oil needs to break $52 per barrel before we can
be confident of a reversal.
around 1,210 or 1,220. Cancellation of the bottom target
is no surprise. First, we
don't have any volume figures for commodities. So we don't
know who enthusiastic the demand on the ascent was.
Second, there is no clear bottom pattern beyond that with
the neckline at around 1,200. So it might be wise to
presume that gold is still in a bear trend.
Silver has failed good support just under 18.
Target of 22 is cancelled. Support at 16. Note, however,
that the bottom pattern in green is good (better than that
of gold). I wouldn't be surprised if silver makes a sharp
Bearish channel in orange dominates.
Very good support on the 23 year chart. Next
support would be around 1.17. But events are unprecedented
and are clearly driving sentiment. I would be hesitant
about betting on a turn on support. Use the chart in
conjunction with some quality dividend UK stocks such as
Diageo, Glaxo, AZN, WPPG amongst others.
Strong resistance in pink and red create a
strong obstacle to further rallying.
Top danger in pink. If the support at 23,000
fails, consider support at 22,200 and the channel in orange.
Valuation is still
cheap. But the index is getting
close to a PE of 12 at a much lower level than it
did at the beginning of last year, suggesting
that earnings are lower. Not an encouraging
First, the index has
turned on bearish channel resistance at around 1,530
(orange). Second, pink
target of 1,600 is
during the formation of the pink
pattern was good so we may
presume that underlying demand is strong.
Third, support at
1,400 is holding nicely. If it
consider black support at 1,320 and then,
if that fails, target at
around 1,280; then
triangle forming on the monthly chart,
similar to that of 20 years ago.
sector still looks bullish: good support in orange, good
bottom pattern in green, good turnover. If the sector
recovers, panic selling volume would support the bullish
target. But for the moment the target is cancelled.
Support would be on the orange channel line at around
Finance recovered well. Top danger in green. But
I would wait for the market to settle down before making
any suggestion of trend.
Orange support held well on closes, despite
intra-day volatility. Target is cancelled. But the outlook is still
orange support holds.
Also good support in green.
Good long term support in orange. Let's see if
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