Apr 292016
 
Copper 3-year chart showing resistance $2.30.

Copper 3-Year Weekly Chart

The price of copper underpins the recent rally in mining stocks. Copper is also a proxy for the overall view on the the direction of the world economy: particularly the view on China. Copper has an inverse relationship with the U.S. dollar but in the end it is the perceived supply and demand balance that determines the price for copper.

Reference a previous post from March 31, 2016.

Reference pos from March 20, 2016: Daily chart for copper showing the doji on Friday and the lateral trading zone.

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Copper long-term chart showing the major downtrend
Copper long-term weekly chart showing the major downtrend.

Copper Long-Term Weekly Chart 2004-2016

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“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

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Apr 282016
 
Next target for WTI is $50 and $60 is the Goldilocks number
WTI 3-year chart showing the break above resistance of $45.

WTI 3-Year Chart

Reference the last chart analysis for West Texas Intermediate.

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“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

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Apr 242016
 
So far, April was a good month for the oil bulls
  1. WTI was able to hold major support at $35
  2. Breakout above the 40-week (200-day) moving average
  3. Breakout above resistance of $40
  4. $40  is now the current  support zone
  5. $45 is the current resistance zone
  6. $50 is the intermediate target and major resistance zone
WTI will test resistance around $45

WTI 2-Year Weekly Candlestick Chart

Reference my April 12, 2016 post for WTI.

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“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

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Apr 202016
 

Major downtrend and intermediate downtrend for natural gas. Near-term uptrend will meet heavy resistance at the 40-week moving average. A break above this average would indicate a test at $2.50. Natural gas has a long way to go before it is out of the woods.

Major downtrend and intermediate downtrend for natural gas. Natural gas will meet heavy resistance at the 40-week moving average. A break above this average would indicate a test at $2.25. Natural gas has a long way to go before it is out of the woods.

http://www.eia.gov/naturalgas/

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“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

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Apr 192016
 
TSX Index trading above the 200-day simple moving average
TSX Index will tet resistance at 14,000

TSX Index 3-Year Chart

Reference the last chart analysis for the tsx index.

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“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

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Apr 172016
 

Dow Jones Industrial Average three-year weekly chart showing the intermediate uptrend. Resistance is at the November, 2015 high around 18,000. A break above 18,000 would indicate a test of the 2015 all-time high of 18,351. MACD, RSI and OBV are confirming the intermediate and near-term uptrend.

Dow Jones Industrial Average three year weekly chart showing the intermediate uptrend. Resistance is at the November, 2015 high around 18,000. A break above 18,000 would indicate a test of the 2015 all-time high of 18,351.

Dow Jones Industrial Average 3-Year Weekly Chart

Reference my last chart analysis for DJIA.

https://en.wikipedia.org/wiki/Dow_Jones_Industrial_Average

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

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Apr 072016
 

TSX Index near-term uptrend meeting resistance at 13,500 near the 200-day simple moving average

TSX Index near-term uptrend meeting resistance at 13,500 near the 200-day simple moving average.

TSX Index 3-Year Weekly Candlestick Chart

Reference the last chart analysis for the TSX Index.

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“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

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Mar 022016
 
This 6-month daily chart shows the close above the resistance level of 1040. The near-term trend is up but the major and intermediate trends are both down
Russell 2000 6-Month Daily Chart showing the breakout above resistance.

Russell 2000 6-Month Daily Chart

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The following 3-year weekly chart for the Russell 2000 shows the same breakout above 1040. But, the important point on the chart is the close above major resistance of 1050
Russell 2000 3-Year Weekly Chart showing the breakout above resistance.

Russell 2000 3-Year Weekly Chart

Reference my post for the Russell 2000 published on January 12, 2016 identifying the fact that the index was in bear market territory.

______________________________

“Technical Analysis is about probabilities.”

Note: Click on HOME for updated postings. This technical analysis is for educational purposes so you can learn to trade online using candlestick charts and other technical indicators including volume, moving averages and oscillators. Please conduct your own chart analysis or consult your financial advisor before making investment decisions. The author of this article may hold long or short positions in the featured stock or index.

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