Headlines have featured on China and its pulling back of its economic stimulus, which has contributed in part not only to a pullback in FXI (iShares Xinhua China 25 ETF).
Let’s take a quick look at the FXI weekly chart to see a lesson in lengthy negative divergences and a likely developing “Rounded Reversal” pattern forming into a critical support level.
I wanted to do an update post on the infamous Natural Gas fund UNG, now that it has (almost) completed a test of the prior lows as mentioned in my prior post entitled, “A Weekly and Daily Chart View of UNG on October 28th.”
Let’s see the daily chart spanning back to the beginning of 2009… and witness the stellar drop from $25 per share to $9.
I wanted to do a quick update post to show the “Rounded Reversal” pattern that formed recently on the intraday charts in GLD (Gold Tracking ETF). Let’s see it on the 15-min frame.
Though the day’s not up yet, I wanted to share a quick take on today’s “Rounded Reversal” pattern in the SPY, as it serves as a great educational example.
Today’s intraday structure gave us a nice “Rounded Reversal” example that formed another “Super Divergence” like yesterday’s session gave us. That’s why it’s so important to study the day’s structure each day because history repeats – sometimes back to back! Let’s look at today’s SPY intraday structure for lessons from the day’s events.
Might a recent volume surge in UNG (Natural Gas ETF) hint that higher prices are yet to come? Let’s take a look at UNG’s long-term weekly structure and then step inside the ‘volume surge’ on the Daily Chart.
A lot of analysts have been watching copper for signs of life that might signal an early recovery is in the works. Let’s look at Copper’s Weekly and Daily chart for clues. Last week, I posted the ambitious post “Copper Comes into Confluence Resistance,” and price fulfilled my expectations for a downswing off the confluence…
Let’s take a quick mid-week look at the S&P 500 daily chart structure for April 22, 2009. While I’ve been making much of the “Bearish Rising Wedge” (which was broken to the downside on Monday), keep in mind that it still looks like we could be forming a “Rounded Reversal” on the Daily chart as…
Talk about stopping a market dead in its tracks – Copper prices have reached a target area of confluence resistance that offers a favorable risk/reward ratio if the resistance holds. Let’s these forms of resistance and what they might mean. Copper Prices Daily: There’s more to see on the Daily chart at the moment. We…
Many analysts follow the Baltic Dry Index ($BDI) as a gauge on the possible future pathway of commodity prices. The Index is a survey of what it would cost to ship certain raw materials by sea, which can sometimes be a leading indicator of commodity prices (supply and demand) themselves. Let’s look at the Index…