This weekly chart of Zijin Mining (2899.hk) is an excellent example illustrating various technical analysis concepts: 1) Moving averages as a roadmap that provides direction, support. 2) Chart pattern reveals continuation (base building) or reversal. 3) Volume as an excellent companion of price movement.
These are 4 oil and gas stocks listed on the Hong Kong Exchange that could be easily picked out with a stock scanner that looks for high volume trading or new 52-week high. They are Anton Oilfield, Sinopec, Hilong and Hong Hua.
Observations of USD strength on crude oil, cad, thoughts on possibility of future Fed rate hike. Also, discussion on selling climax spotted in Starhub.
A look at US Dollar to Indonesian Rupiah price action (no impact), highest traded volume in 9 years coming from SGX ‘oil & gas’ stock Sembmarine following OPEC deal to cut oil production.
Shanghai Shenzhen CSI300 Index closed early second time this week trading down 7% less than 30 minutes. High volume indicates more selling in next few days.
Shanghai Shenzhen CSI300 index opens year down 7% and halted. Intraday selling was remorseless, no sign of short covering despite first break. Very bearish.
About selected stock market indices and canaries in the coal mine. Predicting a deeper correction in 2016. Log-in required.