Today's interesting charts
Comment of the Day

August 27 2010

Commentary by Eoin Treacy

Today's interesting charts

Eoin Treacy's view Following such an exciting day, use the "View All Charts" function to scroll through markets of interest to identify tradable signals.

Dow Jones Industrials - finds at least short-term support in the region of 10000 and while some additional follow through is required to indicate a return to demand dominance, the odds have improved that the Index has find support beyond potential for a short-term bounce.

FTSE-100 - finds at least short-term support in the region of the 200-day MA and a sustained move below this week's low near 5070 would be required to question potential for a further relief rally.

Japanese Yen per 1 US Dollar - The Dollar found support near ¥84 this week as the likelihood of a Japanese intervention increased. Here are two quotes from Prime Minister Kan "Volatile movements in the currency market have a negative impact on economic and financial stability," and "We are ready when necessary to take bold measures." While the four-month progression of lower rally highs remains in a place, a sustained move to new lows would be required to question potential for at least some mean reversion.

Topix Index - third upside key day reversal since late May, this time from close to the November low. A sustained move below 800 would be required to question potential for at least a further technical rally.

Oil - rebounding, having found support in the region of $70 and the July low. A sustained move below that level would be required to limit potential for further higher to lateral ranging.

Copper - found support this week in the region of the 200-day MA and rallied to test the range highs near $3.40. A downward dynamic would now be required to question scope for some additional upside.

Tin - moves to a new recovery high and would need to sustain a move below $20000 to question scope for further upside.

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