This post looks at DXY analysis from a bullish and bearish angle. It might be confusing but I am merely point out how Dollar bulls and bears could justify their point of view. My unqualified observation: DXY could potentially go much higher. Maybe crazy enough to go back to 100 by end of this year.
Tencent analysis on weekly and daily time frame. Key features: double top chart pattern confirmed, no longer bouncing off 13-wema, 20-day and 50-day ema dead cross. Until 408 is recovered, this stock will terminate last 6 bulllish years and we will have to find out where bottom is.
4 weekly charts of Zijin Mining (2899.hk) showing it’s chart pattern develop from 13 July 2017 till present. Key features are: uptrend, new 52-week high, base-building evident, support from moving average roadmap.
Daily and weekly analysis of SG30 (SiMSCI) based on exponential moving average lines as well as time period boxes. Trend is in bears favour as price has printed lower highs and lower lows in the past 3 weeks. Moving averages are now showing resistance as well as breaking down to lower lines.
Chinese New Year is coming so there will be a 1-2 week period where a significant segment of traders go away. Low volume environment could lead to melt-up or melt-down easily (see green zone). Moving average suggest 13-week ema could become potential resistance. Could see pinball action as market fights.
XLP retains it’s status as a leading bear sector in the US market. At the moment, moving averages, price action and chart pattern paint a bearish reversal setup. 1) Moving average dead cross. 2) Bearish expansion in January terminates last 4 quarters of higher lows. 3) Fallen out of equidistant channel.
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.