Today's interesting charts
Comment of the Day

May 20 2010

Commentary by Eoin Treacy

Today's interesting charts

The Risk On/Risk Off nature of market over the last few years is clearly demonstrated in the Chart Library.

Eoin Treacy's view Oil - breaks the 15-month progression of higher reaction lows and while the rally from the intraday lows was impressive, additional upside follow through is required to indicate a return to demand dominance and to offset scope for a further test of underlying trading.

Australian Dollar per 1 Euro - emphatic weekly key reversal forms the largest Euro rally since 2008 and a sustained move below AU$1.40 would be required to question scope for further upside.

Brazil - falls back below 60,000 for the first time since September suggesting that the 7-month loss of momentum is something more than a pause at the previous high. A sustained move back above the 200-day moving average, currently near 64000, would be required to question scope for further downside.

Feeder Cattle - pulling back having tested the upper side of the six-year range. A sustained move back above $118 would be required to question scope for additional downside.



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