2012 01 09 Migbank Daily Technical Analysis Report
Transcript of 2012 01 09 Migbank Daily Technical Analysis Report
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MIG BANK / Forex Broker 14, rte des Gouttes dOr CH-2008 Neuchtel Switzerland
Tel +41 32 722 81 00 Fax +41 32 722 81 01 [email protected] www.migbank.com
Please note: None of the strategies below represent trading advice or trading recommendations of any kind. Please refer to our full disclaimer.
WINNER BEST SPECIALIST RESEARCH
MA
S-TERMMULTI-DAY
L-TERMMULTI-WEEK
STRATEGY/POSITION
ENTRYLEVEL
OBJECTIVES/COMMENTS STOP
EUR/USD Awaiting New Sell Trade Setup.GBP/USD Await fresh signal.USD/JPY Await New Buy Trade Setup above 80.00.USD/CHF Sell limit 3 0.9610 0.9500/0.9306/0.9176 0.9700USD/CAD Awaiting New Buy Trade Setup above 1.0425.AUD/USD Await New Sell Trade Setup.GBP/JPY Long exited at 118.90.EUR/JPY Await fresh signal.EUR/GBP Sell limit 3 0.8300 0.8222/0.8142/0.8068 0.8378EUR/CHF Sell Stop 3 1.2130 1.2010/1.1526/1.1002 1.2250GOLD Stopped for profit at 1605. Two objectives met.SILVER SHORT 2 34.1300 26.0700/23.3400 (Entered 01/11/2011) 30.0000
DISCLAIMER &DISCLOSURESPlease read the disclaimer and thedisclosures which can be found atthe end of this report
DAILY TECHNICAL REPORT9 January, 2012
Ron William, CMT, MSTA
Bijoy Kar, CFA
Notes: Entries are in 3 units and objectives are at 3 separate levels where 1 unit will be exited. When the first objective (PT 1) has been hit the stop will be moved to the entry
point for a near risk-free trade. When the second objective (PT 2) has been hit the stop will be moved to PT 1 locking in more profit. All orders are valid until the next report is
published, or a trading strategy alert is sent between reports.
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Temporary bullish unwinding targets 1.2870.
EUR/USD is temporarily unwinding from oversold conditions, having
recently broken under the major 2011 low at 1.2860 and reaching a fresh
new low at 1.2666.
The major trend remains bearish and so we prefer to sell into forthcoming
rallies, which are likely to be driven by temporary short covering.
Watch for near-term resistance to come in at 1.2820, then 1.2870 and
1.2920. Only a sustained break above here will offer extra gains into
1.3000 (psychological level).
Meanwhile, the bears need to push back beneath this years new low at
1.2666 to resume the major downtrend into 1.2588 (Aug 2010 low).
Inversely, the USD Index has extended its recovery higher to a new 12-
month high (a move worth over 10% from the summer 2010 lows).
Speculative (net long) liquidity flows are strengthening once again and will
continue to help resume the USDs major bull-run from its historic
oversold extremes (momentum, sentiment and liquidity).
Special Report:EUR/USD A Fall From Grace ? Decline Targets 1.3770/1.3410. VIDEO
MIG Bank Webinar: Why the US dollar is likely to gain up to 30% in 6-12 months.US Dollar Interview on Bloomberg
S-T TREND L-T TREND STRATEGY
Awaiting New Sell Trade Setup.
EUR/USD
Ron William, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 454
EUR/USD
EUR/USD daily chart, Bloomberg Finance LP
USD Index daily chart, Bloomberg Finance LP
UPTREND2 YEARS
200-DMA(1.3964)
BERMUDATRIANGLE
EUR/USD (Daily)
BREAKOUT
ZONE(1.4000)
913
USD INDEX
200-DMA(76.24)
DEMARKBUY SIGNALS
BREAKOUT ZONE
EUR 57.6%, JPY 13.6%, GBP 11.9%CAD 9.1%, SEK 4.2%, CHF 3.6%
12 MONTHHIGH
KEYSUPPORT
(79.50)
http://www.migbank.com/research/howard/2011-06-17_migbank_daily-technical-analysis-report_special-focus-EURUSD.pdfhttp://www.migbank.com/research/howard/2011-06-17_migbank_daily-technical-analysis-report_special-focus-EURUSD.pdfhttp://www.migbank.com/research/howard/2011-06-17_migbank_daily-technical-analysis-report_special-focus-EURUSD.pdfhttp://www.migbank.com/research/howard/2011-06-17_migbank_daily-technical-analysis-report_special-focus-EURUSD.pdfhttp://www.migbank.com/research/howard/2011-06-17_migbank_daily-technical-analysis-report_special-focus-EURUSD.pdfhttp://www.youtube.com/watch?v=8JxLscMBUHY&feature=player_embeddedhttp://www.youtube.com/watch?v=8JxLscMBUHY&feature=player_embeddedhttp://www.fxstreet.com/webinars/sessions/session.aspx?id=8e1265eb-a0b4-4b43-87d3-e5be91699f54http://www.fxstreet.com/webinars/sessions/session.aspx?id=8e1265eb-a0b4-4b43-87d3-e5be91699f54http://www.fxstreet.com/webinars/sessions/session.aspx?id=8e1265eb-a0b4-4b43-87d3-e5be91699f54http://www.fxstreet.com/webinars/sessions/session.aspx?id=8e1265eb-a0b4-4b43-87d3-e5be91699f54http://www.bloomberg.com/video/75644864/mailto:[email protected]:[email protected]:[email protected]:[email protected]://www.bloomberg.com/video/75644864/http://www.fxstreet.com/webinars/sessions/session.aspx?id=8e1265eb-a0b4-4b43-87d3-e5be91699f54http://www.youtube.com/watch?v=8JxLscMBUHY&feature=player_embeddedhttp://www.migbank.com/research/howard/2011-06-17_migbank_daily-technical-analysis-report_special-focus-EURUSD.pdf -
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Range trade persists.
GBP/USD continues to trade within the confines of a month long trading
range between 1.5780 and 1.5362. A breakout is sought ahead of trade
positioning.
Sterling is still perceived as a relative safe haven given the continued
elevated yields seen in the Italian sovereign bond market. Thus, should
the region near long-term trend-line support be tested, currently at
1.5135, a degree of demand would be anticipated.
Longer-term, GBP/USD has been in a largely range bound environment
(for the last three years). With this in mind, we favour an eventual rise
towards the 200 day moving average, maintaining the old range from
last year.
Further strengthening of the USD may not be as aggressively witnessed
in GBP/USD, given the large move that took place in 2008.
S-T TREND L-T TREND STRATEGY
Await fresh signal.
GBP/USD
Bijoy Kar, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 424
GBP/USD hourly chart, Bloomberg Finance LP
GBP/USD daily chart, Bloomberg Finance LP
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Bears break from multi-day range and extends its PIR.
USD/JPY has weakened sharply beneath 78.24 (DeMark Level), as
price broke from a multi-day trading range (see hourly chart below).
Confirmation beneath 77.25 (pivot level) now helps trigger a third price
retracement, that we had been expecting, back to pre-intervention levels
and potentially even a new post world war record low beneath 75.35.
Sentiment in the option markets continues to suggest that USD/JPY
buying pressure remains overcrowded as everyone continues to try and
be the first to call the market bottom, within the end of this multi-year
contracting pattern.
This may first inspire a temporary, but dramatic, price spike through
psychological levels at 75.00 and perhaps even sub-74.00. Such a move
would help flush out a number of downside barriers and stop-loss orders,
which would create healthy price vacuum for a potential major reversal.
The medium/long-term view remains bullish, as USD/JPY verges toward
a major long-term 40-year cycle upside reversal. Expect key cycle
inflection points to trigger over the next few weeks, offering a sustained
move above our upside trigger level at 80.00/60, then 82.00 and 83.30.
Please select the link below to review our special coverage on USD/JPY.
Special Report: USDJPY Verging on a major 40 year cycle reversal VIDEO
Webinar: USD/JPYs Long-Term Structural Change
Media Interviews: CNBC Squawk Box &Bloomberg Countdown(Reports:CNBC/Bloomberg)
S-T TREND L-T TREND STRATEGY
Awaiting Renewed Buy Trade Setup above 80.00.
Ron William, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 426
USD/JPY
USD/JPY 120 mins chart, Bloomberg Finance LP
USD/JPY daily chart, Bloomberg Finance LP
QUAKESHOCK!
POST INTERVENTIONRETRACEMENT (PIR I)
G7MOVEHIGH
PIR II
POSTBOJ
MOVE (II)HIGH
DEMARK BUY SIGNAL AHEAD
OF NEW POST WWII LOW (75.35)
POSTBOJ
MOVE IIIPIR III
MULTI-YEARPATTERN
ANTICIPATESBREAKOUT (85-80)
USD/JPY (120 MIN)POSTBOJMOVE (III)
KEY PIVOT LEVEL (77.25) TRIGGERS
POST INTERVENTION RETRACEMENT
DEMARKSELL SIGNAL
http://www.youtube.com/watch?v=rDHE6uEqm6whttp://www.youtube.com/watch?v=rDHE6uEqm6whttp://www.fxstreet.com/webinars/sessions/session.aspx?id=d77a35a0-4a11-44fa-a883-c95e01661d21http://www.fxstreet.com/webinars/sessions/session.aspx?id=d77a35a0-4a11-44fa-a883-c95e01661d21http://www.fxstreet.com/webinars/sessions/session.aspx?id=d77a35a0-4a11-44fa-a883-c95e01661d21http://www.fxstreet.com/webinars/sessions/session.aspx?id=d77a35a0-4a11-44fa-a883-c95e01661d21http://65.55.53.237/id/15840232?video=3000062126&play=1http://65.55.53.237/id/15840232?video=3000062126&play=1http://www.bloomberg.com/video/83310036/http://www.bloomberg.com/video/83310036/http://www.bloomberg.com/video/83310036/http://www.cnbc.com/id/45301945http://www.cnbc.com/id/45301945http://www.cnbc.com/id/45301945http://www.bloomberg.com/news/2011-11-24/dollar-may-rise-20-to-94-yen-on-elliot-wave-rebound-technical-analysis.htmlhttp://www.bloomberg.com/news/2011-11-24/dollar-may-rise-20-to-94-yen-on-elliot-wave-rebound-technical-analysis.htmlmailto:[email protected]:[email protected]:[email protected]:[email protected]://www.bloomberg.com/news/2011-11-24/dollar-may-rise-20-to-94-yen-on-elliot-wave-rebound-technical-analysis.htmlhttp://www.cnbc.com/id/45301945http://www.bloomberg.com/video/83310036/http://65.55.53.237/id/15840232?video=3000062126&play=1http://www.fxstreet.com/webinars/sessions/session.aspx?id=d77a35a0-4a11-44fa-a883-c95e01661d21http://www.youtube.com/watch?v=rDHE6uEqm6w -
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Return towards the 200 DMA favoured medium-term.
If 0.9500 is met, then our strategy below will be negated and removed
from the Daily Technical Report.
USD/CHF has tested close to the 0.9600 region where it was
anticipated a degree of supply may manifest. If a continuation of the
current weakness were to occur, a break under 0.9306 would then
favour a return towards the 200 day moving average.
USD/CHF continues to be a tied to the fate of EUR/CHF and thus the
ability of the SNB to successfully maintain its floor in EUR/CHF at
1.2000. Fresh highs are still anticipated in 10 year Italian sovereign
yields, with scope then for a minor pullback, maintaining downside
pressure on USD/CHF.
10 year yields in Spain and Italy are currently trading at 5.665% and
7.110% versus 6.478% and 7.355%, before the US Dollar based swap
agreement. In both cases we can see that the effects of the swap
agreement appear to be wearing off. This reminds us that the
agreement was likely put in place due to a need for US Dollars by
European financial institutions. This is a clear warning sign. These
same yields were trading at 5.691% and 7.137% respectively last
Friday.
S-T TREND L-T TREND STRATEGY
Sell limit 3 at 0.9610, Objs: 0.9500/0.9306/0.9176, Stop: 0.9700
USD/CHF hourly chart, Bloomberg Finance LP
Bijoy Kar, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 424
USD/CHF
USD/CHF daily chart, Bloomberg Finance LP
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Weakening from pattern ceiling.
USD/CAD is weakening from its triangle pattern ceiling, which coincided
with an intraday DeMark exhaustion signal (see hourly chart).
The chart structure remains positive and so we prefer to wait for a strong
directional confirmation higher before initiating a buy trade setup.
Until then, intraday traders might find fast hit and run short trading
opportunities back into key support at 1.0080.
Meanwhile, the bulls need to push back above 1.0425 and 1.0524 (25
Nov swing high), in order to trigger a larger breakout from the rates multi-
month triangle pattern.
In terms of the big picture, a directional confirmation above 1.0680 is still
needed to unlock the recovery into 1.0850 plus. This would extend the
upside breakout from the rates ending triangle pattern, which was part of
a major Elliott wave cycle (see chart insert).
EUR/CAD, which tends to share a positive correlation with EUR/USD, is
temporarily unwinding from oversold conditions. However, the previous
structural breach under the rates multi-month distribution pattern
continues to favour further downside pressure into 1.2760 (10th
Jan2010).
S-T TREND L-T TREND STRATEGY
Awaiting New Buy Trade Setup above 1.0425.Ron William, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 454
USD/CAD
USD/CAD daily chart, Bloomberg Finance LP
USD/CAD hourly chart, Bloomberg Finance LP
USD/CAD (Daily)
200-DMA(0.9915)
BULLISHTRIANGLEPATTERN
USD/CAD (120 MIN)
KEY SUPPORT (1.0080)
DEMARKSIGNAL
DEMARKSELL SIGNAL
CONFIRMATIONABOVE 1.0680
OPENS LARGERRECOVERY
DEMARKBUY SIGNAL
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Capped under 200-day average (1.0405).
AUD/USD remains capped under its 200-day moving average which has
been holding steady around 1.0405 for over 3 months.
Our cycle analysis remains bearish and favours downside pressure back
into parity, then 0.9862 (15th
Dec low) and 0.9664 (23rd
Nov low).
Keep in mind that such a move would signal a break from the multi-month
triangle pattern (see daily chart).
Elsewhere, the Aussie dollar has weakened sharply against its
neighboring New Zealand counterpart. Near-term price activity is breaking
from a multi-month trading range and now fast approaching its 200-day
MA which is currently trading at 1.2972. Expect further setbacks over the
multi-day/week horizon into support at 1.2834 and 1.2319.
The Aussie dollar is weakening against the Japanese yen, while still
maintaining a neutral contracting trading range. Watch for key support at
76.98 to unlock further downside into 74.81.
S-T TREND L-T TREND STRATEGY
Await New Sell Trade Setup.
AUD/USD
Ron William, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 454
AUD/USD daily chart, Bloomberg Finance LP
AUD/USD 120 mins chart, Bloomberg Finance LP
KEYZONE
AUD/USD(1 YEAR) DEMARK
SELLSIGNALS
200-DMA(1.0405)
AUD/USD (120 MIN)
DEMARK
SELL SIGNAL
RANGE BREAKOUT
PIVOT LEVEL (1.0220)
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Towards 116.84 now favoured.
Long stopped at 118.90. Await fresh signal.
GBP/JPY saw a clear break under the 119.00 low on Friday ending
hopes of a continuation of the recovery structure from this same level.
This failure to hold over 119.00 now suggests a re-test of the region
close to 116.84. Strong support is anticipated close to this level, should
weakness persist.
This is in line with our longer-term view, where it is perceived that there
is potential for a much larger recovery to develop with scope for a return
to 163.09 and then potentially on to 192.65. However, signs of basing
are still not evident in the medium-term timeframe.
S-T TREND L-T TREND STRATEGY
Long exited at 118.90. Await fresh signal.
GBP/JPY
GBP/JPY daily chart, Bloomberg Finance LP
Bijoy Kar, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 424
GBP/JPY hourly chart, Bloomberg Finance LP
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Potential longer-term region of value.
EUR/JPY has now one last major target in its sights, the all time low at
88.97. It is also noted that in the daily timeframe we see possible signs
of exhaustion with the formation of a falling wedge. However, a break
over the resistance of this structure is required, currently at 100.15,
before a more lasting recovery may take place.
The fate of this pair is still tightly bound to the movement in EUR/USD,
particularly given the rangebound nature of USD/JPY over recent weeks
and months. As with any pair that includes the EUR, we will continue to
monitor Italian yields, anticipating a test of the 7.500% level in the 10
year maturity.
In the absence of further stresses out of the core Euro-Zone it would be
expected that a degree of support would be found close to current levels
for a longer-term recovery.
S-T TREND L-T TREND STRATEGY
Await fresh signal.
EUR/JPY hourly chart, Bloomberg Finance LP
Bijoy Kar, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 424
EUR/JPY daily chart, Bloomberg Finance LP
EUR/JPY
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Short-term pullback sought to enter short positions.
EUR/GBP is correcting higher in the short-term (hourly) timeframe.
Structure is still considered bearish and thus a lower high is sought in
the region of 0.8300. Medium-term we continue to seek a return
towards 0.8068 and potentially lower.
The more fluid trading characteristic of EUR/GBP is partly attributed to
the breakdown in EUR/USD under 1.3146, which has assisted short
positioning in other EUR crosses too.
Of continued concern is the elevated yield environment, particularly in
the Italian sovereign bond market. Our expectation of further downside
is made on the assumption that in a rising yield environment in the core
Euro-Zone, Sterling will be deemed as a safe haven of sorts. Focus
remains on the Italian bond market where yields are once again trading
over 7.000%, with a host of rollover auctions scheduled for the first half
of the year.
S-T TREND L-T TREND STRATEGY
Sell limit 3 at 0.8300, Objs: 0.8222/0.8142/0.8068, Stop: 0.8378
EUR/GBP hourly chart, Bloomberg Finance LP
EUR/GBP daily chart, Bloomberg Finance LP
EUR/GBP
Bijoy Kar, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 424
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Sustained under 1.2131 to trigger an extension lower.
This strategy will be negated on a push back over the lower high at
1.2242.
EUR/CHF has again tested the 1.2130 region reaching 1.2131 thus fartoday. An eventual break under this level is anticipated which should
then enable a re-test of the key 1.2000 level. If a break under 1.2000
were to occur, the 1.1800 level would then become the main focus.
We maintain our bearish bias, given the price action in the weekly
timeframe, where a failure to break over the 50 week moving average
leads us to conclude that the larger down-trend is not yet complete.
Elevated yields in the Italian sovereign market are still being closely
monitored, with an expectation of a test of the 7.500% region in the 10
year maturity. Given the longer-term structure, it is doubtful that 7.500%
will cap this 10 year rate.
In an environment where 10 year Italian yields are trading at, or near,
7.000% it is likely that the Swiss Franc will see a degree of demand
despite the low deposit rates available.
S-T TREND L-T TREND
Sell stop 3 at 1.2130, Objs: 1.2010/1.1526/1.1002, Stop: 1.2250.
EUR/CHF daily and weekly charts, Bloomberg Finance LP
EUR/CHF
EUR/CHF hourly chart, Bloomberg Finance LP
Bijoy Kar, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 424
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200-day average continues to maintain pressure.
Stopped for profit at 1605, having met two objectives.
Gold is re-testing its 200-day average, which was recently broken for the
first time in 3 years. The move was triggered by a multi-month trianglepattern breakout (see both daily and intraday charts).
A number of bargain hunting trend-followers will still be watching for any
potential recovery back above the 200-day average which is currently
trading at $1634.
Failure to do so will heighten risk for a much larger decline that we have
been anticipating, if a weekly close beneath $1530 is confirmed. Our cycle
analysis continues to highlight downside targets into $1300 and perhaps
even $1040-1000 (12-year channelfloor/see top chart insert).
Speculative (net long) flows also support this view having recently breached
a key downside level which may threaten over 2 years of sizeable long gold
positions. This will trigger a temporary, but dramatic setback that would
ultimately offer a unique buying opportunity into this coming summer of
2012.
Please select links for in-depth Gold coverage:
Special ReportGolds mountainous peak at riskbeneath $1600 VIDEO
Bloomberg Countdown CNBC Squawk Box MIG Bank Gold Webinar video(BLOOMBERG&CNBCREPORTS)
S-T TREND L-T TREND STRATEGY
Short stopped for profit at 1605. Initial two objectives met.
GOLD
Gold daily and weekly charts, Bloomberg Finance LP
Ron William, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 454
200-DMABROKEN
FIRST TIMEIN 3 YEARS!
DEMARK SIGNALWARNED OF GOLDSOVERBOUGHTCONDITIONS
$1800
$1600
DOWNSIDE: $1600 / $1530 / $1300UPSIDE: $1634 / $1760 / $1800GOLD KEY LEVELS
$1532
DOUBLETOP
$1760
CONFIRMATIONBENEATH $1532TARGETS $1300
CYCLE FAVOURS DECLINEINTO $1300 & $1040-00
TRENDCHANNEL
(12 YEARS)
GOLD (60 MIN)
SHARPDECLINE
WEAKRECOVERY
Gold hourly chart, Bloomberg Finance LP
http://www.migbank.com/research/howard/2011-09-13_Gold_Special_Report_(RW).pdfhttp://www.migbank.com/research/howard/2011-09-13_Gold_Special_Report_(RW).pdfhttp://www.migbank.com/research/howard/2011-09-13_Gold_Special_Report_(RW).pdfhttp://www.youtube.com/watch?v=haKdlGKWyjQ&feature=player_embedded&list=PL953E96C7BE48D2FAhttp://www.youtube.com/watch?v=haKdlGKWyjQ&feature=player_embedded&list=PL953E96C7BE48D2FAhttp://www.bloomberg.com/video/78409176/http://www.bloomberg.com/video/78409176/http://video.cnbc.com/gallery/?video=3000042202http://www.fxstreet.com/webinars/sessions/session.aspx?id=8f81a2e3-e29b-4031-b370-a85149271145http://www.bloomberg.com/news/2011-09-11/gold-may-fall-below-1-700-before-extending-bull-rally-technical-analysis.htmlhttp://www.bloomberg.com/news/2011-09-11/gold-may-fall-below-1-700-before-extending-bull-rally-technical-analysis.htmlhttp://www.bloomberg.com/news/2011-09-11/gold-may-fall-below-1-700-before-extending-bull-rally-technical-analysis.htmlhttp://www.cnbc.com/id/44310840http://www.cnbc.com/id/44310840http://www.cnbc.com/id/44310840mailto:[email protected]:[email protected]:[email protected]:[email protected]://www.cnbc.com/id/44310840http://www.bloomberg.com/news/2011-09-11/gold-may-fall-below-1-700-before-extending-bull-rally-technical-analysis.htmlhttp://www.fxstreet.com/webinars/sessions/session.aspx?id=8f81a2e3-e29b-4031-b370-a85149271145http://video.cnbc.com/gallery/?video=3000042202http://www.bloomberg.com/video/78409176/http://www.youtube.com/watch?v=haKdlGKWyjQ&feature=player_embedded&list=PL953E96C7BE48D2FAhttp://www.migbank.com/research/howard/2011-09-13_Gold_Special_Report_(RW).pdf -
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Returns again towards the $30.0000 level.
Lowered stop level to 30.0000, ensuring a risk free trade and locking in
profits on our short position which was initiated from 34.1300.
Silvers weak recovery from oversold conditions has tested key support
turned resistance at $30.0000. A sustained close below here now triggers
a test of the previous swing low at $26.0700, reaching 26.1600 so far.
Macro price structure continues to focus on the downside risks, following
the major sell-off in September. Such a dramatic move traditionally
produces volatile trading ranges. This allows the market to have enough
time to recover and accumulate renewed buying interest.
Expect a large trading range to hold between $37.0000 - 26.0700 over the
multi-week/month horizon, with downside macro risk into $21.5165
(61.8% Fib-1999 bull market) and $20.0000. This would still maintain
silvers long-term uptrend and help offer a potential buying opportunity for
the eventual resumption higher.
Continue to watch the gold-silver mint ratio (see top chart insert) which
has now accelerated higher by 70%, suggesting further risk aversion over
the next few weeks. This also helps explain recent divergences between
gold and silver.
S-T TREND L-T TREND STRATEGY
SHORT 2: 34.1300, Objs: 26.0700/23.3400, Stop: 30.0000
SILVER
Spot Silver hourly chart, Bloomberg Finance LP
Ron William, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 454
Spot Silver daily chart, Bloomberg Finance LP
DEMARKSELL SIGNALS
Silver (Daily)
200 DMA(36.1770)
13 YEAR LEVEL
UNWINDING 70%FROMOVERSOLD TERRITORY
Gold/Silver"Mint" Ratio
SILVER (60 MIN)
WEAKRECOVERY
PSYCHOLOGICAL(30.0000)
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Notes: Entries are in 3 units and objectives are at 3 separate levels where 1
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