An indecisive spinning top pattern as the market extended its fall down to the centre tine support of the bullish June - September schiff pitchfork (currently 1.2212)…we’ve almost reached the double top technical target that’s coincident with the 1.2160 fib.
An outside day with a close back above the key nearby 50% fib at 1.3898…we still have a potential double top pattern with a likely target coincident with the October 2017-to-date 50% fib at 1.3683.
A possible bullish hammer pattern and a suitable bearish follow on to the previously mentioned pipe top….however…the market failed to close over the key October - December 2016 50% fib at 0.8834…this is now resistance…since late January we might be forming a very small uptrend (currently 0.8736) within the larger overall bearish market pattern.
A bearish key reversal back down on the daily chart and under the recent h+s neckline (currently 109.38)…however…please note that key reversals are suspect in any jpy pairing.
Aussie Dollar
A second bearish black marubozo and the first close below the key 50% fib at 0.7817 of the whole dec 2017-to-date move up…we’ve since tested down to the supports of the medium ma (currently 0.7767) and the long ma (currently 0.7757) and held.
Nymex Crude Futures
Second bearish black marubozo and first close below the key recent 50% fib at 61.38…we’ve reached the double top technical target at about 61.20…this is now resistance…most importantly…we have a second close below and outside the key bullish jun – aug 2017 Andrew's pitchfork…the lower tine support…now resistance…is at 62.58.
A bearish black crow follows the previous bullish white soldier confirming the failure to really make a fresh high and even try up to the key recent 50% fib at 7303.
A bearish long black marubozo and the aug 2017 congestion zone support of 12,050 – 12,300 has come back into view…we have a double top pattern with a potential target in the 11,850 area
A bearish long black marubozo with a clsoe below the key recent 50% fib at 2705 and the longer term 50% fib at 2647 plus we’ve had our first close below and outside the key lower tine of the whole of 2016’s andrews pitchfork (currently 2627)…all these are now resistance…we’re now testing a small congestion zone 2560 – 2590 from nov 2017.
A bearish long black marubozo…the market is currently showing an aversion to testing the bearish upper tine of the September – December 2017 andrews pitchfork (currently 122.62) though this tine is actually showing a good indication of the angle-of-attack of the recent bearish market.
An indecisive spinning top as the market closes a second time below the key 2015 – 2016 50% fib at 158.54…however…this is also the second time in the last couple of weeks that we’ve come down to the lower tine of the September – December 2017 schiff pitchfork (currently 157.40) and hesitated or pulled back up…caution!
A third bearish black crow and a second close back below the middle tine of the recent key September - December 2017 move (currently 145.08)…this is now resistance…we’re approaching the support of the middle tine of the 2016 – 2017 schiff pitchfork (currently 143.03).
Lme 3 Month Copper
A lower but indecisive spinning top after the large key reversal down with a second consecutive close below the recent 50% fib at 6909 and the medium ma (currently 6896)…they are now resistance…we’re now currently testing down to the 61.8% fib support of the same recent move at 6814.
Disclaimer: ADM Investor Services International Limited is authorised and regulated by The Financial Conduct Authority. Member of The London Stock Exchange. Registered office: 4th Floor Millennium Bridge House, 2 Lambeth Hill, London EC4V 3TT. Registered in England No. 2547805 a subsidiary of Archer Daniels Midland Company. Risk Warning: Investments in Equities, CFDs, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value, investors should therefore be aware that they may not realise the initial amount invested, and indeed may incur additional liabilities.
These Investments may entail above average financial risk of loss, and investors should therefore carefully consider whether their financial circumstances and investment experience permit them to invest and, if necessary, seek the advice of an independent Financial Advisor. Some services described are not available to certain customers due to regulatory constraints either in the United Kingdom or elsewhere. © 2014 ADM Investor Services International Limited 2014.