Por Zerohedge.com
Via Citi FX Technicals
US 10Y yield: Closed below the 200 day moving average and should test 2.47% in the short term
Dow Industrials: Closed below the 200 day moving average for the first time since late 2012 and is likely to test the 55 week moving average in the near term at 15,214.
S&P 500: Likely to continue lower towards the 200 day moving average at 1,707.
Nikkei 225: The next support area is 13,799-918 which needs to be watched on a weekly close basis. The overlay with USDJPY suggests the pair should probably be trading around 99.00 now.
Gold: The morning star pattern on the daily chart and hold of the 55 day moving average tells us the consolidation / correction down is over and the uptrend has resumed.+
US 10 year yield – closed below the 200 day moving average
The close below the 200 day moving average opens the way for a move to the double top neckline at 2.47%
Decent support levels come in just below there at 2.39%-2.41% which would have to be watched on a weekly close basis before confirming any medium term break (and in conjunction with US 30 year yields)
For now a test of 2.47% is expected in the short term
Dow Jones Industrial average daily and weekly charts
Left chart: Closed below the 200 day moving average for the first time since late 2012
Right chart: Focus now turns to the 55 week moving average at 15,214. That is likely to be tested in the near term. A weekly close below there, if also seen on the S&P 500 (where the 55 week moving average comes in at 1,672) would amount to a more important medium term bearish break.
S&P 500 – likely to test the 200 day moving average
In the shorter term, the S&P 500 is still at risk of posting further losses down to 1,707 (200 day moving average) and parallel of the trend across the highs.
Nikkei 225 and USDJPY overlay – should USDJPY be lower? - watch the 55 week moving average
The weakness in the Nikkei 225 (which closed below the 200 day moving average today) would suggest USDJPY should be trading around 99.00
The next set of decent supports on the Nikkei 225 are at 13,799-918 where the 55 week moving average and parallel of the trend across the highs converge
We would need to see a weekly close below those levels before confirming any further bearish breaks
Gold – uptrend has likely resumed after consolidation
The negative divergence seen last week has now been unwound after the brief pullback / consolidation
Gold has remained above the 55 day moving average support at $1,235 and has posted a morning star like pattern on the daily candles
This now suggests the uptrend is ready to resume and higher highs are likely
As a reminder, the weekly chart showed another bullish outside week two weeks ago...
A rally above last week’s high at $1,279 opens the way for a move to $1,361-77 and then the more medium term double bottom neckline at $1,433.
No hay comentarios:
Publicar un comentario