18 October 2011

Core Book : Chart Montage

  • Despite recent very strong rally (read squeezed to maximum pain here), all the charts here do not look like they have completed the longer term down moves yet.
  • I would say the 3 charts on the RHS look marginally more bearish than the 3 LHS charts (EUR perhaps should also be on the RHS).
  • eg. Gold and Copper. Bear flags.
  • New lows remain ahead of us.
  • The others (EUR, AUD, CAD) have probably come back too much for rapid downside gratification. Expect consolidation patterns eg triangles before new lows.

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