Interesting charts October 19th 2017
Comment of the Day

October 19 2017

Commentary by Eoin Treacy

Interesting charts October 19th 2017

Eoin Treacy's view

The New Zealand Dollar pulled back sharply against the US Dollar on political uncertainty and is now testing the 70¢ area. However, a clear upward dynamic will be required check momentum. 

The Malaysia Kuala Lumpur Composite is one of the few markets in the world breaking to new lows and will need to bounce soon if demand dominance is to be reasserted.  

The Hang Seng posted a downside key day reversal today. It was led lower by property developers as the repercussions of the Communist Party Congress filter through. Downside follow through tomorrow would signal a peak of at least near-term significance and potentially a reversion towards the mean. 

Cocoa broke successfully above the trend mean today to hit a new recovery high. A sustained move below $2000 would be required to question current scope for additional upside. 

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