Today's interesting charts
Comment of the Day

August 12 2010

Commentary by Eoin Treacy

Today's interesting charts

Eoin Treacy's view
Today's interesting charts - Check out the commonality across the food sector using the 'View All Charts' function.

Colombian Peso - the US Dollar has become overextended relative to the 200-day MA and found support today near COP1800, forming an upside key day reversal. A sustained move below that level would be required to question scope for some mean reversion.

Gold - found support in late July near the 200-day MA and continues to rally. It has broken the short-term progression of lower rally highs and a sustained move below $1185 would now be required to question potential for a further test of overhead trading.

Wheat - finds at least short-term support above the psychological 700¢ level on USDA estimates of smaller global stockpiles. This week's low would need to be taken out to question scope for some additional upside.

Sugar - finds support in the region of 18¢, which also marked the March/April highs and would need to hold a close below 17.5¢ to question potential for some additional upside.

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