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FTSE 100 Tech Update: Top and Bottom-side Levels in Focus
 
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Technical Analysis
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January 9, 2017

FTSE 100 Tech Update: Top and Bottom-side Levels in Focus

What’s inside:

FTSE 100 continues to rise, pullback risk heightening Top-side resistance in form of trend-line back to Oct 2015 Support at prior record high breakout levels

On Thursday, we discussed the increasing risk of a decline hatching in the FTSE 100 despite the impressive persistence of the rise dating back to 12/2. It’s been the most stable market when looking at the major players in the global spectrum, but momentum is showing signs of stalling as the UK index is only a few points higher than where it was at the high of the day on the first trading day of the year.

We see no reason to be immediately bearish the FTSE, though, but as we said last week, and [...]

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December 30, 2016

Crude Oil Price Forecast: Early 2017 Volatility Pattern Arises

Talking Points:

Crude Oil Technical Strategy: rising wedge should alert bulls Watch for move to and possibly through key support on early-2017 pull backs Crude inventory gains on DoE data opens up focus on delivered OPEC cuts

A core observation of the current state of the Oil market is that short sellers have been nearly wiped out as we trade near 17-months highs and aggressively bullish options have risen. Naturally, the development of the OPEC and non-OPEC production cut accord in late November through mid-December was critical through this. However, we’re now a week away when the production cuts are going to be verified as they are set to go into effect in the New Year. [...]

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December 29, 2016

Can Gold Prices Rally with Fed Raising Rates? Patterns Think So

Talking Points

-Gold prices fell nearly 20% in the last half of 2016

-The triangle in August and September 2016 suggest the downward correction is temporary

-Targets include $1,280 and possibly higher in 2017

Gold prices in 2016 has seen a tale of two halves. During the first half of 2016, gold prices increased nearly 30% to reach a high of $1375. The last jab higher was fueled by the emotion of the Brexit vote in late June when the Fed Fund futures softened their rate hike path.

Then, as traders began to digest what Brexit really means, we saw gold prices sell off nearly 20% from those highs down to $1122 in December. The ugliness of Brexit was to [...]

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December 28, 2016

DAX: Top-side Levels in Sight for Early January

What’s inside:

DAX holiday chop continues Resistance levels could be met quickly in early January with fresh buying For now, the sidelines look like a good place to be, but if in a position manage as any other time

The last week of the year, a time of thin trading and low volatility. Barring an unforeseen news shock the next few days aren’t likely to hold a lot of ‘excitement’. The DAX spent the better part of the month in strong rally mode, rising nearly 10% from the 12/2 low, until the holiday chop set in last week. Even if it was another time of the year, the DAX was in need of a period of consolidation/pullback given how fierce the rise was in such a short span of time. [...]

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