Assorted charts including WTI, XAUUSD

WTI 12M and weekly charts

These are 12M (yearly) line and candlestick charts of WTI from 1980s to present. There is a lot of noise at the top and bottom but based on the line chart, WTI is probably trapped in a multi-year range between $40-43 support below and $96-100 resistance at the top.

Note the level $42.70 which is end-of-2008 close.

WTI 12M line chart from 1980s to present

WTI 12M line chart from 1980s to present

 

This chart below is WTI is weekly time frame from Q4 2015 to present. Note the price reaction to $42.70 which was the end-of-year close in 2008. In addition, note resistance this year comes from previous 52-week high (2016)

In between, the 52-week high and 2008 low, WTI is enclosed in a narrow range. There is probably not much room until price breaks out higher or lower. Q-q trend suggests that WTI is weakening.

WTI weekly chart Q4 2015 - present

WTI weekly chart Q4 2015 – present

 

XAUUSD weekly line chart

  • Big blue boxes for up years, big pink boxes for down years.
  • Smaller green boxes for up quarters, smaller pink boxes for down quarters.
  1. Up years with higher highs and higher lows from 2007 to 2011 – uptrend.
  2. Inside year in 2012 – could be continuation, could be reversal.
  3. Big bearish expansion in 2013 with lower low. 2013 terminates previous year-year uptrend.
  4. 2014 – 2015 is a continuation, 2013-2015 are down trending years with lower highs and lower lows.
  5. 2016 with new 52-week high terminates down trend from 2013 – 2015. This is a trend change signal. I reported this on 20 July 2016 in ‘This chart screams new trend for XAUUSD‘.
  6. This quarter XAUUSD beat Q1 and Q2. With a positive and higher close for Q3 at the end of this month, there is a good chance to see a new high of year or at least another try at 52-week high ($1375) in Q4.
  7. It is fair to expect 2018 to be better.
XAUUSD weekly chart from  2007 - present

XAUUSD weekly chart from 2007 – present

 

GBPNZD weekly chart from June 2015 to present

If a new 52-week high could be a signal for y-y trend change, a new quarterly high could be a trend change q-q. With this expectation in mind, GBPNZD could be due for further gains now that 1) a resistance was broken and 2) there was also a double bottom chart pattern.

Note the spike in the centre-bottom of this chart. There was a GBP flash crash on 07 October last year that has not been explained till date. This spike appears on some charts but not others – this is a function of data source. I prefer to give the spike a pass when I draw trend lines, levels etc.

GBPNZD weekly chart June 2015 - present

GBPNZD weekly chart June 2015 – present

 

EURUSD 12M chart

I will talk about this chart and many others including USDJPY and AUDUSD at my seminar tomorrow.

Note: I am an invited speaker. I do not represent IG. My views are my own.

EURUSD 12M chart

EURUSD 12M chart

USDJPY line chart Q4 2015 - present

USDJPY line chart Q4 2015 – present

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Soh Tiong Hum is Director of TerraSeeds Market Technician Pte Ltd. TerraSeeds is a trading educator in Singapore since 2005.   Soh's Twitter account @sohtionghum was ranked #23 out of The Top 70 Twitter Accounts To Follow In 2015 by MahiFX.   Disclaimer notice: "I do not have a financial advisor's license. I am not qualified by any regulator to give financial advice. I do not know you the reader. Your investment means and motive may be different from me. My posts here are based on observations and meant for education. I am not responsible for for any consequence from your actions."
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