Category Archives: Other Topics

Copper chart analysis

What is Dr. Copper’s prognosis for the world economy?
Chart analysis for copper based on the weekly chart analysis showing the intermediate and near-term downtrend. The 200 day and 50 day moving averages are identified on the chart. The RSI is confirming the intermediate downtrend. Copper is trading below both moving averages. Major support is at $3.00.  Dr. Copper has a tepid prognosis for the world economy.

Copper Weekly Chart courtesy of StockCharts.com

Chart analysis for copper based on the weekly chart showing the intermediate and near-term downtrend. The 200 day and 50 day moving averages are identified on the chart. The RSI is confirming the intermediate downtrend. Copper is trading below both moving averages. Major support is at $3.00.

Dr. Copper has a tepid prognosis for the world economy which does not bode well for the TSX Index.

Reference the last chart analysis for copper.

Reference the last chart analysis for the TSX Index which is positively correlated with copper.

Reference my chart analysis for copper which showed the correlation between copper and the TSX.

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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.

WTI-Brent spread narrows to $7.76

Chart is the ratio of WTI/Brent
Weekly chart showing the ratio of WTI/Brent.  It has narrowed significantly since the beginning of March as the glut in Cushing, Oklahoma continues to decline.

WTI/Brent Weekly Chart

Prices as of May 8, 2013

  • Differential Brent versus WTI for May 8, 2013 was $104.34 – $96.58 = $7.76
  • Price for Western Canadian Select on May 8, 2012 = $74.68
  • Brent versus WCS differential was $104.34 – $74.68 = $29.66
  • WTI versus WCS differential was $96.58 – $74.68 = $21.90

Prices as of February 5, 2013

  • Differential Brent versus WTI for February 5, 2013 was $116.52 – $96.65 = $19.87
  • Price for Western Canadian Select on February 5, 2012 = $66.74
  • Brent versus WCS differential was $116.52 – $66.74 = $49.78
  • WTI versus WCS differential was $96.65 – $66.74 = $29.91

Reference the last chart analysis for West Texas Intermediate Crude (WTIC)

Relevant articles picked from the Web:

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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.

© 2013 TradeOnline.ca

Copper daily candlestick chart

Tall white candlestick on Friday: 6.50% gain
Tall bullish white candlestick on the daily copper chart on Friday needs follow-through next week.

Copper Daily Candlestick Chart

Nice pop on Friday but there has to be follow-through next week. The intermediate trend is still down and the 20-day simple moving average is a good approximation of the intermediate downtrend.

Reference the last chart analysis on April 18, 2013 where I highlighted the hammer.

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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.

© 2013 TradeOnline.ca

Canadian Dollar chart analysis

Near-term uptrend for the Canadian Dollar and intermediate downtrend
Near-term uptrend for the Canadian Dollar with resistance at $0.99

Canadian Dollar 6 Month Daily Chart

The near-term uptrend in the Canadian dollar will meet heavy resistance at $0.9900.

Reference my post from January 25, 2013: Canadian Dollar and TSX Composite Index Diverge and the excerpt from the post.

If the positive correlation between the TSX Index and the Canadian dollar is still relevant, then either the TSX trades down or the Canadian dollar trades up. At this stage in the market, I do not forecast an uptrend for the dollar so one can conclude that the TSX Index will not advance much more is this intermediate uptrend. The Canadian dollar has lost some of its luster as a petro-currency and safe haven investment.

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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.

© 2013 TradeOnline.ca

Natural Gas candlestick chart analysis

Intermediate uptrend for natural gas approaching major resistance
Intermediate uptrend for natural gas approaching major resistance.

Natural Gas Weekly Chart

Peyto Exploration & Development is a good proxy for the movement in the price of natural gas. View the chart for this junior oil company which is positively correlated with the price of natural gas. A big natural gas player, Encana, barely moved in response to the upward movement in natural gas. View the chart for Encana: not a pretty picture.

Relevant articles picked from the web:

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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.

© 2013 TradeOnline.ca

West Texas Intermediate weekly chart

Neat-term downtrend with support at $85.00
Near-term downtrend for WTIC with support at  $85.00 and major support at $80.00

WTIC Weekly Candlestick Chart courtesy of StockCharts.com

Near-term downtrend for WTIC with support at $85.00 and major support at $80.00. The intermediate trend is sideways.

Reference the last chart analysis for WTIC.

______________________________

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.

© 2013 TradeOnline.ca

Copper candlestick chart analysis

Hammer on the chart today is a reversal pattern
A hammer appeared on the daily chart for copper. A hammer is a reversal pattern.

Copper Daily Candlestick Chart

The hammer on today’s chart is a reversal pattern. This is an indicator that the intermediate downtrend will end. It does not mean that copper will suddenly reverse direction: it could ease into a consolidation zone. The price action today is reflected in the hammer. Copper opened at $3.18 and then traded down to $3.06 which was close to major support at $3.00. It then closed at $3.20.

Reference the last chart analysis for copper based on the weekly chart.

______________________________

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.

© 2013 TradeOnline.ca