Today's interesting charts
Comment of the Day

July 22 2011

Commentary by Eoin Treacy

Today's interesting charts

Price charts reveal the difference between reality and consensus.

Eoin Treacy's view Gold - remains in a tight range in the region of $1600. While slightly overextended relative to the 200-day MA, a sustained move below $1500 would be required to begin to question medium-term uptrend consistency.

US Dollars per 1 Australian Dollar - found support in the region of the 200-day MA four weeks ago and performed well this week. A sustained move below $1.05 would be needed to check potential for additional upside.

Nasdaq-100 - hit a new high recovery high today following a strong performance this week. While some consolidation is possible in this area, a sustained move below 2300 would be needed to check scope for some further upside.

Rough Rice - broke out of a two-year base last week and held the majority of the move this week. Prices have been quite volatile over the last few years, but a sustained move below $15 would be required to check medium-term upside potential.

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