Interesting charts July 24th 2019
Comment of the Day

July 24 2019

Commentary by Eoin Treacy

Interesting charts July 24th 2019

Eoin Treacy's view

The US Trade Weighted Broad Dollar Index continues to trade in the region of its all-time peak. A sustained move below 125 will be required to signal more than temporary resistance in this area.

Platinum bounced from the $800 area in 2008, 2016 and has been firming from that level again over the last year. An incremental sequence of higher reaction lows remains evident and a sustained move below $800 would be required to potential for additional upside. 

Philadelphia Semiconductors index breaks to a new high in a dynamic manner. A short-term overbought condition is evident but a sustained move below 1400 will be required to question potential for continued upside.

Russell 2000 index is firming within its range and a sustained move above 1600 would support the reflation hypothesis.

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