Is this the calm before the storm?
http://www.investopedia.com/terms/v/vix.asp
______________________________
Is this the calm before the storm?
http://www.investopedia.com/terms/v/vix.asp
______________________________
West Texas Intermediate is testing major support in the $42 to $43 price zone. There is a high probability this support zone will not hold which would put a test of the $40 price zone in play. If you need another negative, the 50-day moving average has crossed below the 200-day moving average: the old death cross.
Reference my last chart analysis for WTI posted on May 4, 2017.
______________________________
Long-term downtrend for the CRB Index
It currently is made up of 19 commodities as quoted on the NYMEX, CBOT, LME, CME and COMEX exchanges. These are sorted into 4 groups, each with different weightings. These groups are:
The index comprises 19 commodities: Aluminum, Cocoa, Coffee, Copper, Corn, Cotton, Crude Oil, Gold, Heating Oil, Lean Hogs, Live Cattle, Natural Gas, Nickel, Orange Juice, Silver, Soybeans, Sugar, Unleaded Gas and Wheat. The tenth revision of the index renamed it the Thomson Reuters/Core Commodity CRB Index, or TR/CC CRB.
https://en.wikipedia.org/wiki/Thomson_Reuters/Jefferies_CRB_Index
______________________________
There is some support around $45 but the near-term downtrend will test major support around $43
______________________________
Stockcharts.com displays adjusted charts as a default. The data is adjusted by adding dividends back into the stock price. When a company pays a relatively high dividend, this has a dramatic impact on the weekly chart. It is my opinion that unadjusted charts should be used in technical analysis. The following three-year weekly charts for Dream Office REIT highlight the impact of using adjusted charts. What chart would you use for your chart analysis? Or, does it matter?
______________________________
The following chart uses unadjusted data and this is the chart I would use for my technical analysis
______________________________
______________________________
https://www.ishares.com/us/products/239699/ishares-nasdaq-biotechnology-etf
______________________________
“Technical Analysis is about putting the probabilities on your side.”
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.
© 2017 TradeOnline.ca
Have a great trading day. Any questions? Email [email protected]
______________________________
“Technical Analysis is about putting the probabilities on your side.”
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.
© 2017 TradeOnline.ca
Have a great trading day. Any questions? Email [email protected]