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Proven Track Record
Forex
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charmercharts.com
07.02.2012
SUPPORT
1.5795/90
1.5765/60
1.5740/25
1.5695/80*
1.5640
1.5626
1.5580
1.5560
1.5545RESISTANCE
1.5840/60
1.5880/90
1.5940/50
1.6005
1.6035/45
1.6075/80
1.6110/20
1.6140
1.6180SHORT TERM FIBONACCI
23.6 1.5800 38.2 1.5747 50.0 1.5705 61.8 1.5663 78.6 1.5610 LONG TERM FIBONACCI
23.6 1.5455 38.2 1.5591 50.0 1.5701 61.8 1.5810 78.6 1.5967 GBP/USD
Cable came lower to 1.5725 before buyers came back into the market... Now we do need to trade and hold above 1.5860 if we are to see any further strength. Failure to do so will result in the market coming lower and we would be able to see this push lower this week for 1.5695/80 to 1.5640.
A move to these lower region will ease the overbought conditions on the daily charts. However if we take a look at the weekly charts we can see that although technical indicators still point higher, we are in danger of running out of steam and a move to 1.5500 should not be ruled out…
For the short term however 1.5695 to 1.5640 should stem the selling pressure for the next few sessions.
Now if we do claw our way back above 1.5860 we would be in a good position for 1.5890 then 1.5940 where we should see the market top out.
charmercharts.com
06.02.2012SUPPORT
1.5765/60
1.5740/35
1.5695/80*
1.5640
1.5626
1.5580
1.5560
1.5545
1.5495RESISTANCE
1.5790/95
1.5820
1.5860
1.5880/90
1.5940/50
1.6005
1.6035/45
1.6075/80
1.6110/20SHORT TERM FIBONACCI
23.6 1.5800 38.2 1.5747 50.0 1.5705 61.8 1.5663 78.6 1.5610 LONG TERM FIBONACCI
23.6 1.5455 38.2 1.5591 50.0 1.5701 61.8 1.5810 78.6 1.5967 GBP/USD
Cable failed to maintain over 1.5820 after hitting 1.5860. Now we do need to trade and hold above 1.5820 if we are to see any further strength. Failure to do so will result in the market coming lower and we would be able to see this push lower this week for 1.5695/80 to 1.5640.
A move to these lower region will ease the overbought conditions on the daily charts. However if we take a look at the weekly charts we can see that although technical indicators still point higher, we are in danger of running out of steam and a move to 1.5500 should not be ruled out.
For the short term however 1.5695 to 1.5640 should stem the selling pressure for the next few sessions.
Now if we do claw our way back above 1.5820 we look for 1.5860 then 1.5880. Here we would be selling once more and we would hold unless a break is seen above 1.5895.
charmercharts.com
03.02.2012SUPPORT
1.5795/90*
1.5765/60
1.5740/35
1.5695/80*
1.5640
1.5626
1.5580
1.5560
1.5545RESISTANCE
1.5820
1.5860
1.5880/90
1.5940/50
1.6005
1.6035/45
1.6075/80
1.6110/20
1.6140SHORT TERM FIBONACCI
23.6 1.5800 38.2 1.5747 50.0 1.5705 61.8 1.5663 78.6 1.5610 LONG TERM FIBONACCI
23.6 1.5455 38.2 1.5591 50.0 1.5701 61.8 1.5810 78.6 1.5967 GBP/USD
Cable retreated from the highs and closed lower yesterday...overnight we have seen this weakness
persist seeing lows of 1.5785. So this morning we are looking at 1.5820 to determine direction. If
we can break and hold above here there is no reason we cannot challenge the recent highs. We do
need however to keep our eyes on the overbought condition of the daily charts.We would expect another test of 1.5885 if we can make the break and we would cover longs to here..
Re-instate longs then either on dips to 1.5820 or a break of 1.5890. If above 1.5890 we see further
strength emerge with 1.5940/50 then the short term objective. Given yesterdays move we see some
retracement from these higher levels….1.5955 is the 76.8 % med term fib...and this is likely to offer
cover to sellers under market conditions evident.Now if we cannot break 1.5820 early this morning, and come lower and lose 1.5780 we would expect
a retreat to 1.5740/35 before buyers become active once more. Only if we lose 1.5730 would we
see the buyers reverse and we would look then for 1.5695/80 to entice.
charmercharts.com
02.02.2012SUPPORT
1.5812*
1.5795/90*
1.5765/60
1.5740/35
1.5695/80*
1.5640
1.5626
1.5580
1.5560RESISTANCE
1.5860
1.5880/90
1.5940/50
1.6005
1.6035/45
1.6075/80
1.6110/20
1.6140
1.6180SHORT TERM FIBONACCI
23.6 1.5693 38.2 1.5663 50.0 1.5595 61.8 1.5560 78.6 1.5514 LONG TERM FIBONACCI
23.6 1.5455 38.2 1.5591 50.0 1.5701 61.8 1.5810 78.6 1.5967 GBP/USD
Cable sliced through 1.5812 as though it did not exist and up we charged to 1.5885. we have eased back from the highs a bit...but whilst we remain above 1.5812 even with overbought conditions the market should remain buoyant.
We would expect another test of 1.5885 and we cover to here.. Re-instate longs then either on dips to 1.5820 or a break of 1.5890. If above 1.5890 we see further strength emerge with 1.5940/50 then the short term objective. Given yesterdays move we see some retracement from these higher levels….1.5955 is the 76.8 % med term fib...and this is likely to offer cover to sellers under market conditions evident.
Now if we come lower and lose 1.5790 we would expect a retreat to 1.5740/35 before buyers become active once more.
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charmercharts.com
07.02.2012
SUPPORT
1.3080
1.3060/40
1.3015/10*
1.2965/50
1.2935
1.2880
1.2850
1.2820
1.2790
1.2720RESISTANCE
1.3100
1.3130
1.3160
1.3185
1.3210
1.3240/45*
1.3260/70
1.3290
1.3305
1.3325/35
1.3375SHORT TERM FIBONACCI
23.6 1.3160 38.2 1.3120 50.0 1.3080 61.8 1.3045 78.6 1.2995 LONG TERM FIBONACCI
23.6 1.3010 38.2 1.3247 50.0 1.3438 61.8 1.3629 78.6 1.3866 EUR/USD
There is nothing much I can add to this report...as Euros are staying within a range...which is helping to alleviate the overbought conditions on the daily charts..We have excellent support in the 1.3015/10 area1.3015/10 area...and this will be the key.. If the market declines initially...we will look for this support to hold if we are to complete this basing pattern…
We would then expect the market to rise off this support and once more we are looking to 1.3240 as key resistance on the topside...If we manage to hold 1.3005 and trade higher we still have the inverse H&S pattern to negotiate this week...The break point on the topside is 1.3270 and if we break above here we have a measured target of 1.3895 over the next few months,
Failure to hold over 1.2950 will make this pattern obsolete and we will then find the market trying for the previous reaction lows of 1.2620 over the next few weeks…
We are at critical point in the Euro and we have positive technical indicators on the med term charts...so be careful and take quick profits in either direction.
charmercharts.com
06.02.2012SUPPORT
1.3080
1.3060/40
1.3015/10*
1.2965/50
1.2935
1.2880
1.2850
1.2820
1.2790
1.2720RESISTANCE
1.3100
1.3130
1.3160
1.3185
1.3210
1.3240/45*
1.3260/70
1.3290
1.3305
1.3325/35
1.3375SHORT TERM FIBONACCI
23.6 1.3160 38.2 1.3120 50.0 1.3080 61.8 1.3045 78.6 1.2995 LONG TERM FIBONACCI
23.6 1.3010 38.2 1.3247 50.0 1.3438 61.8 1.3629 78.6 1.3866 EUR/USD
Euros have excellent support in the 1.3015/10 to 1.3015/10 area, and this will be the key. If the market declines initially we will look for this support to hold if we are to complete this basing pattern.
We would then expect the market to rise off this support and once more we are looking to 1.3240 as key resistance on the topside...If we manage to hold 1.3005 and trade higher we still have the inverse head and shoulders pattern to negotiate this week. The break point on the topside is 1.3270 and if we break above here we have a measured target of 1.3895 over the next few months.
Failure to hold over 1.2950 will make this pattern obsolete and we will then find the market trying for the previous reaction lows of 1.2620 over the next few weeks.
We are at critical point in the Euro and we have positive technical indicators on the med term charts...so be careful and take quick profits in either direction.
charmercharts.com
03.02.2012SUPPORT
1.3130
1.3100
1.3080
1.3060/40
1.3015/10
1.2965/50
1.2935
1.2880
1.2850
1.2820RESISTANCE
1.3160
1.3185
1.3210
1.3240/45*
1.3260/70
1.3290
1.3305
1.3325/35
1.3375
1.3400/10
1.3460SHORT TERM FIBONACCI
23.6 1.3160 38.2 1.3120 50.0 1.3080 61.8 1.3045 78.6 1.2995 LONG TERM FIBONACCI
23.6 1.3010 38.2 1.3247 50.0 1.3438 61.8 1.3629 78.6 1.3866 EUR/USD
Euros are actually holding steady at the moment...and although we may trade lower...there is excellent
support at the 1.3015/10 area. Now the pattern that has been emerging this week is that of an inverse
Head and Shoulder..Now this is not confirmed...but it is something that as a chartist I am on the look out
for….confirmation will be a break of 1.3270. This will see the neckline and the med term 38% fib level
breached and then we will find buyers coming back into the market. The measured target from this pattern
is 1.3895….so we will have to look closely on how the market reacts on today's data.As stated ...we have excellent support in the 1.3015/10 area...and this will be the key.. If the market declines
initially...we will look for this support to hold if we are to complete this basing pattern…
Failure to hold over 1.2950 will make this pattern obsolete and we will then find the market trying for the
previous reaction lows of 1.2620 over the next few weeks…We are at critical point in the Euro and we have positive technical indicators on the med term charts...so
be careful and take quick profits in either direction.
charmercharts.com
02.02.2012SUPPORT
1.3160
1.3130
1.3100
1.3080
1.3060/40
1.3015/10
1.2965/50
1.2935
1.2880
1.2850RESISTANCE
1.3185
1.3210
1.3240/45*
1.3260/70
1.3290
1.3305
1.3325/35
1.3375
1.3400/10
1.3460
1.3485SHORT TERM FIBONACCI
23.6 1.3160 38.2 1.3120 50.0 1.3080 61.8 1.3045 78.6 1.2995 LONG TERM FIBONACCI
23.6 1.3010 38.2 1.3247 50.0 1.3438 61.8 1.3629 78.6 1.3866 EUR/USD
Euros bounded back after holding 1.3020….It has gone higher than expected at 1.3220...but again..we really haven't yet broken through any significant resistance on the topside which still pushes me to a lower Euro….
We have excellent resistance at 1.3245...and although the market does look strong...we should get carried away with the herd unless we see a break of 1.3270...If we do break this resistance then buyers will be back in the market...sellers will be reversing and stopping out shorts...so we will get a knock on effect and we will trade higher with 1.3325/35 then the short term objective…
Now….as we know...Reversal Thursday is not just a myth….So I am looking for the market to fail...and for it to come back towards the 1.3010 support. We would cover shorts to here...and then we would be looking to sell below 1.2990 for 1.2965/50 which offers excellent support.
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charmercharts.com
07.02.2012SUPPORT
83277
83029
82853
82824
82754/34
82549
82392RESISTANCE
83722/30
83765
83784
84099
84103
84166
84219
84857SHORT TERM FIBONACCI
23.6 82989 38.2 83202 50.0 83374 61.8 83546 78.6 83765 EUR/GBP SPOT
EUR/GBP has been caught in a steep downtrend for 6 moths now and there is no end in sight at this stage to this trend. The failure just below 84215 last week does keep the pressure to the downside with a retest of the recent lows at 82219 quite likely before too long.
However in the short term we do look oversold so for today a recovery is possible and should offer a better selling opportunity. If we can push back above 82989-83035 look for a move to 83202/217. This could be tough to beat but go with a move above 83225 for 83374/400. Cover all long positions here and attempt short psoitions with stops losses above 83440.
Failure to get back above 82989 sees downside pressure remain to 82800 and then a retest of the Feb lows so far at 82645. A break below here in this down trend is very possible and would then target 82549 and possibly 82392. If the market contiunues to slide we will then see the lows for the past 12 months tested again at 82219. Cover all shorts in case of a bounce from this support area. attempt long positions here with stop losses placed below 82018.
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charmercharts.com
07.02.2012
SUPPORT
1.0760
1.0745
1.0690
1.0660
1.0630
1.0590
1.0560
1.0520
1.0460RESISTANCE
1.0790/95
1.0820
1.0875
1.0920
1.0955
1.10090
1.10120SHORT TERM FIBONACCI
23.6 1.0735 38.2 1.0695 50.0 1.0665 61.8 1.0630 78.6 1.0590 LONG TERM FIBONACCI
23.6 1.0580 38.2 1.0450 50.0 1.0345 61.8 1.0240 78.6 1.0110 AUD/USD
Aussie has seen a sharp bounce overnight...but the rally did not break 1.0840 therefore we would still be holding shorts looking for another move lower towards 1.0690. we would view to cover all shorts to these lower levels.
Attempt small longs looking for the market to recover...and we see recovery back towards 1.0795/1.0820.
Again we cover longs to here. Apply the same strategy of re-selling this market...again keeping stops above 1.0840.
Now if we do exceed this resistance you will find sellers scrabbling for cover and the buyers then take us higher for 1.0875 and the 1.0920/55.
charmercharts.com
06.02.2012
SUPPORT
1.0690
1.0660
1.0630
1.0590
1.0560
1.0520
1.0460
1.0440
1.0425RESISTANCE
1.0745
1.0760
1.0790/95
1.0820
1.0875
1.0920
1.0955
1.10090
1.10120SHORT TERM FIBONACCI
23.6 1.0730 38.2 1.0690 50.0 1.0660 61.8 1.0630 78.6 1.0590 LONG TERM FIBONACCI
23.6 1.0580 38.2 1.0450 50.0 1.0345 61.8 1.0240 78.6 1.0110 AUD/USD
Aussie slightly oversold in the short term...so we may well see a small bounce early in the session. However..med term technical indicators have turned negative and therefore we look for any bounce to be sold into.
1.0790/95 remains at present good resistance and we would view any challenge on this area as a place to re-sell. We would keep stops then above 1.0840.
1.0650 is looking the area where we should start to see a little profit taking. However as stated the med term charts have turned negative and therefore we would still advocate wither selling into strength or selling a break below 1.0650. We lose this support and 1.0580 which is the first med term fib level will be the place where sellers would drive us down to.
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charmercharts.com
07.02.2012
SUPPORT
7645
7615
7599
7555/50**
7525
7495
7475
7410RESISTANCE
7680/85
7715
7740
7775
7795
7815
7830
7855SHORT TERM FIBONACCI
23.6 7660 38.2 7690 50.0 7720 61.8 7745 78.6 7780 LONG TERM FIBONACCI
23.6 7695 38.2 7796 50.0 7880 61.8 7960 78.6 8060 USD/JPY
Good base made down at 7605/7599 and we have traded higher from these lows..We have surpassed 7645 and whilst we are above here there is scope for this market to move higher.
We look for 7680/85 as the first objective. Here we should see longs covered. We would reinstate longs on a break of 7685 as this will keep the pressure to the topside and see further strength leading to 7715 possibly 7740. Technically from the daily charts we are looking poised to move higher and therefore we are still buying into weakness down to 7650/45.
If we lose 7645 there is scope for a retest of the recent lows in the 7615/7599 region..we would still be buyers on weakness to here...keeping stops then below 7550.
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charmercharts.com
07.02.2012
SUPPORT
0.9910*
0.9885*
0.9830
0.9810
0.9780
0.9730
0.9705*
0.9655RESISTANCE
0.9965
0.9985
1.0020
1.0040
1.0075*
1.0140
1.0198
1.0255SHORT TERM FIBONACCI
23.6 0.9960 38.2 0.9980 50.0 0.9995 61.8 1.0014 78.6 1.0035 LONG TERM FIBONACCI
23.6 1.00364 38.2 1.0180 50.0 1.0035 61.8 0.9885 78.6 0.9705 USD/CAD
Canada came lower but held above 0.9910 and this should help the market correct higher today. Below 0.9910 is 0.9885 and this will also prove to be good support.
We are beginning to be oversold on the med term charts and this may also help to buoy prices in the not too distant future.. We also have the 55 weekly M/A coming in at 0.9910 so between these 2 prices is where we would like to see the market base..
We would look for a move back towards 1.0040 to 1.0075. Here we would look to cover all long positions. We would attempt small shorts, but as the market is beginning to turn positive profits should be taken on any shorts quite quickly as we would expect further strength to follow after a small correction.
Below 0.9830 and we would re-think our bullish scenario.
charmercharts.com
06.02.2012
SUPPORT
0.9910*
0.9885*
0.9830
0.9810
0.9780
0.9730
0.9705*
0.9655RESISTANCE
0.9965
0.9985
1.0020
1.0040
1.0075*
1.0140
1.0198
1.0255SHORT TERM FIBONACCI
23.6 0.9965 38.2 0.9985 50.0 1.0000 61.8 1.0020 78.6 1.0040 LONG TERM FIBONACCI
23.6 1.00364 38.2 1.0180 50.0 1.0035 61.8 0.9885 78.6 0.9705 USD/CAD
Canada is looking weaker now and we can see this coming lower for 0.9885 quite quickly.This area is the med term 0.618 fib level and as such it is liable to offer some respite form the recent downward move.
We are beginning to be oversold on the med term charts and this may also help to buoy prices in the not too distant future.. We also have the 55 weekly M/A coming in at 0.9910 so between these 2 prices is where we would like to see the market base..
We would look for a move back towards 1.0040 to 1.0075. Here we would look to cover all long positions. We would attempt small shorts, but as the market is beginning to turn positive profits should be taken on any shorts quite quickly as we would expect further strength to follow after a small correction.
Below 0.9830 and we would re-think our bullish scenario.
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charmercharts.com
07.02.2012
SUPPORT
9188
9165*
9135
9120/9110
9085
9065
9010
8975
8940RESISTANCE
9230
9288
9360
9400
9430
9455
9470
9504
9535SHORT TERM FIBONACCI
23.6 9170 38.2 9205 50.0 9230 61.8 9255 78.6 9288 LONG TERM FIBONACCI
23.6 9360 38.2 9208 50.0 9080 61.8 8940 78.6 8810 USD/CHF
$CHF reacted well yesterday..coming down to 9170 thus keeping you long. We are still looking at a small basing pattern on the 60 min charts and therefore we are looking at 9255 to 9285 as a good intra day target for Usd/Chf…
We would expect buyers to cover longs to here. Also we would like to see sellers coming back in the market and they will and they will hold unless we break above 9360. Only if webreak this important fib level will buyers come back into the market and they will be looking for further strength leading to 9430/9455.
Now if we stall at 9255 take this as a sign of weakness and look for another assault on the downside with 9170 once more offering good support...As before cover shorts...go long...stops below 9165 for 9120/9110.
Commodities
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charmercharts.com
07.02.2012
SUPPORT
1718*
1712*
1704
1693
1684
1676
1669/67
1661/59
1656
1651
1641RESISTANCE
1724
1730
1739
1742
1747
1751/52
1759
1762/64*
1768
1774
1785SHORT TERM FIBONACCI
23.6 1705 38.2 1670 50.0 1642 61.8 1613 78.6 1577 Spot Gold
Gold is still trading lower after the key reversal day on Friday, and yesterday saw 1712 lows posted...we do expect further weakness with 1704 to 1699 looking to entice. Here we would look to cover all shorts and re-instate longs.
We would expect the market to have a bounce from these lower levels and 1724/1730 retracement should not be ruled out...we should see profit taking at these higher levels and fresh sellers coming into the market...We would hold shorts unless above 1730.
Now if we lose 1699 it would be quite a negative move and we would abandon longs ...joining sellers in their quest for a lower market and we would then be liable to move lower towards 1670.
We cover shorts to here and look once more for a corrective bounce…
Now if above 1730 it would ease downside pressure, leaving the way clear for upward move to 1739/1742.
charmercharts.com
06.02.2012SUPPORT
1730
1724
1718*
1714*
1704
1693
1684
1676
1669/67
1661/59
1656RESISTANCE
1739
1742
1747
1751/52
1759
1762/64*
1768
1774
1785
1795
1802SHORT TERM FIBONACCI
23.6 1705 38.2 1670 50.0 1642 61.8 1613 78.6 1577 Spot Gold
Gold fell on Friday, but we held the 50% weekly fib level of 1721. We do need however to claw back above 1739 to take further pressure off the downside..
Technical indicators are beginning to turn negative, but weekly charts still show strength and therefore we would still be buyers of Gold on weakness, we look for 1704 to hold any attempt at it and we would be looking to buy at these lower levels. We would hold longs unless below 1699.
If we do manage to break and hold above 1739 we can see this trading higher once more and we would be looking again at 1762/64 to entice prices higher.
charmercharts.com
03.02.2012SUPPORT
1752/51
1747
1742
1739
1730
1718*
1714*
1704
1693
1684
1676RESISTANCE
1759
1762/64*
1768
1774
1785
1795
1802
1816
1828/30
1840/42
1851SHORT TERM FIBONACCI
23.6 1705 38.2 1670 50.0 1642 61.8 1613 78.6 1577 Spot Gold
Gold once more continued to trade higher, and we broke to 1761. We are seeing a small correction this
morning, but the break has been made now in Gold, and even if we do pullback we are looking limited
on the downside to 1747 possibly 1739 before buyers come back into the market.We are obviously still overbought n the med term charts, but currently this is having no effect on the
price action..However it is still something that we need to be aware of going forward.. Small...and I
mean small D/T on the 60 min charts...but I have stated the support levels which should hold…Now If we continue to climb and break the 1764 area we are looking at the market continue to
strengthen and we would be looking at 1775 to 1785 quite quickly...and overall we would be looking at
1795/1802 in the not to distant future…Point to note...Gold bounced off its major long term uptrend in Dec from 1522..The weekly charts are
just beginning to point higher...therefore there is no reason we cannot go back to 1920 and exceed this
resistance for 2000….
charmercharts.com
02.02.2012SUPPORT
1742
1739
1730
1718*
1714*
1704
1693
1684
1676
1669/67
1661/59RESISTANCE
1747
1751/52
1756*
1762/64*
1768
1774
1785
1795
1808/09
1816
1828/30SHORT TERM FIBONACCI
23.6 1696 38.2 1663 50.0 1636 61.8 1609 78.6 1575 Spot Gold
Gold made highs of 1752 overnight...but is still overbought...and the chart pattern is looking a little toppy...therefore we are still looking for a correction to ease this overbought scenario..
A move back to 1718/14 should not be ruled out over the next 2 sessions and we would like to see buyers in at these lower levels….however if a decline to here does not alter the overbought state of the market we should expect further weakness to 1696/93 which is the first med tem fib level… we would expect buyers in defending this support and we will hold longs unless a break below 1690 occurs.
Now if we hold above 1739 on a pullback we would expect then another rise to the topside and we would have the 1756 to 1764 resistance in sight. Here we cover all longs. Attempt small shorts...but do not hold if we break above 1768.
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charmercharts.com
07.02.2012
SUPPORT
96.80/64
96.00
95.00/95
95.44
94.79/65
93.23
92.87
92.54/52
90.97/87RESISTANCE
97.13/36
98.30
98.70
99.07
99.40/48
99.84/98
100.18/23
101.25
101.77SHORT TERM FIBONACCI
0.236 96.82 0.38 97.67 0.5 98.37 0.618 99.06 0.786 99.93 WTI Light Crude Mar Contract
WTI Crude Oil held with in Friday's range in an 'insdie day' below 97.67/90 to leave the outlook for today unchanged.
So 97.67/90 remains resistance again today. Stops needed on shorts here above 98.40 for a test of resistance at 99.00/10. If the market then breaks above 99.35 look for a run to 99.93.
Back below support at 96.82/70 keeps the sellers in control for a retest of 96.18/00 and then Feb lows at 95.55/44. Cover shorts here to take a profit.
Watch for a break lower however to target 94.79/65 and possibly 94.42. A move below 94.10 could then signal a test of support at 92.74/52 to follow. Cover all shorts here and attempt longs looking for a short term bounce with stop losses needed below 92.00.
charmercharts.com
06.02.2012
SUPPORT
96.80/64
96.00
95.00/95
95.44
94.79/65
93.23
92.87
92.54/52
90.97/87RESISTANCE
97.13/36
98.30
98.70
99.07
99.40/48
99.84/98
100.18/23
101.25
101.77SHORT TERM FIBONACCI
0.236 96.82 0.38 97.67 0.5 98.37 0.618 99.06 0.786 99.93 WTI Light Crude Mar Contract
WTI Crude Oil broke good resistance at 96.82/94 and to reach the next target of 97.67/90 which is where we suggested
attempting shorts once again and then market then retreated to 97.06So 97.90/00 remains resistance again today. Stops needed on shorts here above 98.40 for a test of resistance at 99.00/10. If the market then breaks above 99.35 look for a run to 99.93.
Back below support at 96.82/94 keeps the sellers in control for a retest of 95.55/44. Cover shorts here to take a profit.Watch for a break lower however to target 94.79/65 and possibly 94.42. A move below 94.10 could then signal a test of support at 92.74/52 to follow. Cover all shorts here and attempt longs looking for a short term bounce with stop losses needed below 92.00.
charmercharts.com
03.02.2012
SUPPORT
96.80/64
96.00
95.00/95
95.44
94.79/65
93.23
92.87
92.54/52
90.97/87RESISTANCE
97.13/36
98.30
98.70
99.07
99.40/48
99.84/98
100.18/23
101.25
101.77SHORT TERM FIBONACCI
0.236 96.82 0.38 97.67 0.5 98.37 0.618 99.06 0.786 99.93 WTI Light Crude Mar Contract
WTI Crude Oil broke good support at 96.94.
We are testing what is now resistance at 96.82/94 and this may be a selling opportunity with the outlook continuing to
weaken in this market. As stated previously the double top pattern formed through Nov to Jan is now playing out and further weakness is expected in the days to follow. However if we break through 97.15 stop losses on shorts and expect to see the market climb towards 97.67/90 where we can attempt shorts once again. Stops needed above 98.40 for a test of resistance at 99.00/10.Failure to get through 96.82/94 keeps the sellers in control for a retest of 95.55/44. Cover shorts here to take a profit.
Watch for a break lower the to target 94.79/65 and possibly 94.42. A move below 94.10 could then signal a test of support at 92.74/52 to follow. Cover all shorts here and attempt longs looking for a short term bounce with stop losses needed below 92.00.
charmercharts.com
02.02.2012SUPPORT
98.30
97.91/70
97.36/13
96.80/64
96.00
95.00/95
94.65
93.23RESISTANCE
98.60
99.07
99.40/48
99.84/98
100.18/23
101.25
101.77
102.06
102.44
103.37/41SHORT TERM FIBONACCI
0.236 102.26 0.38 101.31 0.5 100.57 0.618 99.82 0.786 98.89 WTI Light Crude Mar Contract
WTI Crude Oil broke recent lows at 97.55/40 as we had expected which has set us up for a test of very good support at 96.94. As stated yesterday this level would be expected to attract buyers and therefore hold the downside today. Cover all shorts here and look for a bounce back to the 97.40/60 area. A break below 96.80 however targets 96.00 as the next target on the downside.
Above 97.40/60 we are looking for 98.40/60 to be tested. Good chance we run in to selling pressure here but if we mange to push higher again look for 99.30/50 for a selling opportunity today.
US Markets
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charmercharts.com
07.02.2012
SUPPORT
1337
1333
1329
1321
1318/17
1314/11
1302/01
1295/93
1291RESISTANCE
1342/45
1348
1352/53
1358/59
1362
1367
1372
1376
1383/84SHORT TERM FIBONACCI
23.6
1307 38.2
1285 50.0
1268 61.8
1250 78.6
1228 S&P March Contract
S&P has double topped at 1342 and therefore we would expect some weakness later in the session. We would hold shorts from these higher levels and only reverse a break of 1345.
We should come lower with 1333 to 1329 looking to be the short term objective. Here we would be looking to cover all short positions...we would look for the market to hold this support therefore we would enter longs...keeping tight stops below..If 1329 breaks we look for 1321 to 1318 before finding a base…
Now as stated we have double topped at 1342. If then we break 1345 it would negate this short term pattern and leave the market well placed to trade higher...we would be looking at gains through to 1353/53. Take profits on longs to here. We are still overbought on the daily charts so we need to take care on rallies as they may not be able to be sustained.
charmercharts.com
06.02.2012SUPPORT
1333
1329
1321
1318/17
1314/11
1302/01
1295/93
1291
1288RESISTANCE
1337
1342/45
1348
1352/53
1358/59
1362
1367
1372
1376SHORT TERM FIBONACCI
23.6
1307 38.2
1285 50.0
1268 61.8
1250 78.6
1228 S&P March Contract
S&P did rally on Friday, but never quite got to 1345/48 target, but did reach 1342. We have seen the market gap open and if we lose 1333 we shall see further selling pressure.
Short term we are looking oversold, however we are still overbought in the med term and we would therefore look for 1333 to hold today and for another attempt at 1342 possibly 1438 before the market tops out, look to sell on rallies to these higher levels and only reverse if above 1353.
Below 1333 and we are going to see weakness follow with 1318/17 the short term objective, cover shorts here.
Re-sell a break of 1317 as a loss through here leaves 1305 / 1301 as your immediate targeted area.
charmercharts.com
03.02.2012SUPPORT
1321
1318/17
1314/11
1302/01
1295/93
1291
1288
1281
1274RESISTANCE
1329
1333
1337
1342/45
1348
1333/34
1337
1342/45
1348SHORT TERM FIBONACCI
23.6
1298 38.2
1278 50.0
1262 61.8
1246 78.6
1226 S&P March Contract
S&P has done nothing yesterday to alter our view...even with negative looking Bond markets..
We would still be selling this market..and we would only reverse if we made a break above 1333…
1329 offers a previous top...and we would be sellers to here. We would envisage a move lower with
1314/11 the first target. Here cover all shorts.Look to re-sell a break of 1309 as a loss of this support leaves the market with 1295/1293 target
quite quickly.Now if we do not decline and break the 1333 barrier there is nothing of any importance until the
1345/48 area. We will look again at the market if this area is reached..
charmercharts.com
02.02.2012SUPPORT
1318/17
1314/11
1302/01
1295/93
1291
1288
1281
1274
1266RESISTANCE
1321
1329
1333
1337
1342/45
1348
1333/34
1337
1342/45SHORT TERM FIBONACCI
23.6
1269 38.2
1230 50.0
1200 61.8
1169 78.6
1130 S&P March Contract
S&P bounced back yesterday..and now it is looking as though we are going to try and make a double Top pattern… We dwould still be selling this market..and we would only reverse if we made a break above 1333…
1329 offers a previous top...and we would be sellers to here. We would envisage a move lower with 1314/11 the first target. Here cover all shorts. Look to re-sell a break of 1309 as a loss of this support leaves the market with 1295/1293 target quite quickly.
Now if we do not decline and break the 1333 barrier there is nothing of any importance until the 1345/48 area. We will look again at the market if this area is reached..
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charmercharts.com
07.02.2012SUPPORT
12683
12622/07
12550
12522/11
12476/65
12397
12323
12248RESISTANCE
12722/26
12749
12786
12833
12873
12984
13033/60
13133/40SHORT TERM FIBONACCI
23.6 12748 38.2 12696 50.0 12654 61.8 12612 78.6 12558 Mini Dow Jones March Contract
Mini Dow Jones is now approaching the 2011 highs of 12873. Clearly this is a very critical level and considering the market is now severely over bought on the long and short term charts, there is a very strong chance that the market will top out just below this level.
We cover all long positions as we approach this resistance and attempt shorts. Stop losses on these short positions are needed above 12984 as if we make it through here the market will have broken higher and will be clear to try for a test of resistance at 13133/40.
Failure to break above last week's high at 12833 soon could start to trigger profit taking as traders feel that we have got close enough to the 2011 highs at 12873 and have been unable to challenge them. Watch for the market to come back to 12748 and then 12735/22. Below here we have better support in the 12696/82 area so cover all shorts here and perhaps attempt longs in the hope of a small bounce towards 12800. Stops on longs positions needed below 12654 as this opens up the risk of further losses to 12622/12 and possibly 12558/50.
-
There are no archived charts for this product yet.
Equity Index Futures
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charmercharts.com
07.02.2012
SUPPORT
5846/43
5820/16
5807/02
5766/63
5749
5725
5712
5696
5681
5644RESISTANCE
5869/75
5895/00
5913
5932/36
5969/72
5992/96
6006/09
6025/30
6043/50
6077/79SHORT TERM FIBONACCI
23.6
5815 38.2
5775 50.0
5744 61.8
5712 78.6
5667 FTSE Mar Contract
FTSE had a fairly quiet day yesterday pausing for breath after Fridays action. Support at 5820/16 held but we couldn't make any advances towards Fridays highs at 5878. we look to test this level again in the next couple of sessions.
Support on any pullback starts at 5846 and then 5820/16. Below here we have short term fib support at 5798/96 and then October and January highs at 5766/63 then med term fib support at 5737. Further short term support is found at 5710/08 before longer term fib support at 5688. We then have medium term 38% fib at 5650 before last weeks lows at 5611.
If we see a continuation of the upward movement we have immediate resistance at the 5878 level mentioned previously. If we get above here look to 5913 before 5931/36 and we also have a long term trendline going back to July 09 coming in this week at 5940, so this area should be tough to get through first time round. Above here 5976/83 and then 6049
charmercharts.com
06.02.2012
SUPPORT
5875/69
5846/43
5820/16
5807/02
5766/63
5749
5725
5712
5696
5681RESISTANCE
5895/00
5913
5932/36
5969/72
5992/96
6006/09
6025/30
6043/50
6077/79
6085/95SHORT TERM FIBONACCI
23.6
5798 38.2
5748 50.0
5708 61.8
5668 78.6
5611 FTSE Mar Contract
FTSE made a break to the topside breaking November highs at 5763 making it all the way up to the highs from august last year at 5878. We closed at the highs so we wait and see whether this level holds or we break through and make further gains.
Support on any pullback starts at 5846 and then 5820/16. Below here we have short term fib support at 5798/96 and then October and January highs at 5766/63 then med term fib support at 5737. Further short term support is found at 5710/08 before longer term fib support at 5688. We then have medium term 38% fib at 5650 before last weeks lows at 5611.
If the upward movement continues we have immediate resistance just above where we closed at 5878. if we get above here look to 5913 before 5931/36 and we also have a long term trendline going back to July 09 coming in this week at 59401 so this area should be tough to get through first time round. Above here 5976/83 and then 6049.
charmercharts.com
03.02.2012
SUPPORT
5725
5712
5696
5681
5644
5607/00
5579/70
5560/54
5497/92
5458/54RESISTANCE
5749
5763/66
5802/07
5816/20
5843/46
5869/75
5895/00
5913
5932/36
5969/72SHORT TERM FIBONACCI
23.6
5718 38.2
5683 50.0
5656 61.8
5628 78.6
5589 FTSE Mar Contract
FTSE made some small gains yesterday beating previous highs and stopping just short of resistance
at 5775. We couldn't close above previous highs and we are starting to look a bit toppy but we were
held up be fib support at 5718Resistance is found at previous highs of 5766 up to yesterdays highs at 5773/75, above here the
next upside target at 5802 and we would expect this to hold at the first attempt.Support on any pullback starts at 5749/51 before yesterdays lows and fib support at 5722/18. We
would look to cover all shorts here and attempt small longs keeping stops below 5706/02. Below
here look to 5684 then 5669/67 before a strong area of support at 5656/57. Below here we have
the weeks lows at 5609 and then very strong support at 5585/89.
charmercharts.com
02.02.2012SUPPORT
5725
5712
5696
5681
5644
5607/00
5579/70
5560/54
5497/92
5458/54RESISTANCE
5749
5763/66
5802/07
5816/20
5843/46
5869/75
5895/00
5913
5932/36
5969/72SHORT TERM FIBONACCI
23.6
5725 38.2
5702 50.0
5685 61.8
5667 78.6
5641 FTSE Mar Contract
FTSE had an excellent rally up making some good gains and breaking some good resistance on the way. We stopped just short of the highs and saw a bit of a pullback but we now look set to test the highs.
We are very overbought on the 4 hourly and so we could see the pullback to continue early in the session. Support on the pullback is at 5724. Below here we have 5706/02 and then 5688/85 and if we see below here look to 5669/67 before a strong area of support at 5652/46/41. Below here we have the weeks lows at 5609 and then 5581.
If we see the gains continue look to 5749/52 before the highs at 5760/66. If we manage to break these highs the next upside target at 5802 and we would expect this to hold the upside for today.
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charmercharts.com
07.02.2012
SUPPORT
6736/33
6717/16
6708/03
6693/90
6677
6662/56
6636
6608/03
6581/78RESISTANCE
6768/66
6791/98
6817/27
6842/51
6860
6890/95
6907/13
6926/35
6949/50SHORT TERM FIBONACCI
23.6 6705 38.2 6650 50.0 6605 61.8 6560 78.6 6503 DAX Mar Contract
Dax held a narrow range unable to beat the 6770/80 area. This will be the key to the action for this week.
A sustained break above 6797 today keeps the short term bull market intact and sees us heading for 6860 and then a test of the next trend line above at 6877/85. Once through 6914 we then see the market continuing higher to 6947 where it would be wise to take profits on all long positions.
Any pull back below 6743 finds support at 6718/14 and then 6670/64 which should be worth attempting longs. Keep
stops below 6655 for 6624 and possibly 6584 support next.
charmercharts.com
06.02.2012
SUPPORT
6736/33
6717/16
6708/03
6693/90
6677
6662/56
6636
6608/03
6581/78RESISTANCE
6768/66
6791/98
6817/27
6842/51
6860
6890/95
6907/13
6926/35
6949/50SHORT TERM FIBONACCI
23.6 6705 38.2 6650 50.0 6605 61.8 6560 78.6 6503 DAX Mar Contract
Dax broke through 6750 and tested a long term trend line that is seen in the 6770/80 area. This will be the key to the action for this week.
A sustained break above 6797 today keeps the short term bull market intact and sees us heading for 6860 and then a test of the next trend line above at 6877/85. Once through 6914 we then see the market continuing higher to 6947 where it would be wise to take profits on all long positions.
Any pull back below 6743 finds support at 6705 and then 6650 which should be worth attempting longs. Keep stops below 6630 for 6605 support next.
charmercharts.com
03.02.2012
SUPPORT
6608/03
6581/78
6565/62
6515/11
6486/80
6453
6416
6400
6366RESISTANCE
6636
6662
6677
6690/93
6703/08
6733/36
6766/6
6784
6791/98SHORT TERM FIBONACCI
23.6 6533 38.2 6444 50.0 6372 61.8 6300 78.6 6208 DAX Mar Contract
Dax edged higher with 6714 the next target. Above here we can stretch to 6750.
We have some support at 6636 and then a buying opportunity at 6610/04. Stop losses needed below 6589 which should
see the market fall further to 6559. Cover any shorts here but if we break lower go with the move looking for 6533. Attempt long positions here as this should hold the downside today but stop losses needed below 6520 for continued weakness to 6486.
charmercharts.com
02.02.2012SUPPORT
6608/03
6581/78
6565/62
6515/11
6486/80
6453
6416
6400
6366RESISTANCE
6636
6654/60
6690/93
6703/08
6716/17
6733/36
6768/66
6784
6791/98SHORT TERM FIBONACCI
23.6 6501 38.2 6418 50.0 6351 61.8 6284 78.6 6199 DAX Mar Contract
Dax unexpectedly broke the previous highs of 6570/80 to reach 6636.
This opens the door to further gains now with 6714 the target. Above here we can stretch to 6750.
A pullback finds support at the Jan highs of 6579 with further support at 6565 to attempt longs. Stops needed below
6555 for 6522 and possibly a test of support at 6500/90. Attempt longs here as we expect this to hold the downside for
now. Stop losses needed below 6475.
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charmercharts.com
07.02.2012
SUPPORT
2511/09
2497/93
2489/86
2478/76
2469/68
2450
2433
2423/21
2414RESISTANCE
2525
2540/44
2554/56
2576/77
2587/89
2604/08
2612/13
2621/25
2631SHORT TERM FIBONACCI
23.6 2494 38.2 2476 50.0 2461 61.8 2445 78.6 2426 Eurostoxx Mar Contract
Eurostoxx had a fairly quiet session after the strong gains on Friday and the underlying strength does seem to remain in this market for now. Yesterday was held by the 2489/86 support.
Above 2509/02 we can look for a test of Friday’s high at 2525. This is the level to beat for a run to our target of 2540/44 and possibly 2553 today.
Below the 2509/02 level targets 2494 before yesterday’s low at 2486 and then perhaps 2476/75 for a buying opportunity. Expect to see buyers here but stops on longs needed below 2470 for 2463/61. Cover any shorts here and attempt longs as there is very little chance of the market falling any further at this stage.
charmercharts.com
06.02.2012
SUPPORT
2511/09
2497/93
2489/86
2478/76
2469/68
2450
2433
2423/21
2414RESISTANCE
2525
2540/44
2554/56
2576/77
2587/89
2604/08
2612/13
2621/25
2631SHORT TERM FIBONACCI
23.6 2494 38.2 2476 50.0 2461 61.8 2445 78.6 2426 Eurostoxx Mar Contract
Eurostoxx managed to break and close above 2502/09. After Friday's action we do not expect too much volatility from today but the underlying strength does remain in this market.
We look for the 2509/02 level to act as support today and hold the downside. Friday’s high of 2525 is of course the level to beat for a run to our target of 2540/44 and possibly 2553 today.
Below 2520 we risk a test of the 2509/02 level where we expect to see buyers. However a break below here then targets 2494 before 2476/75 for a buying opportunity. Expect to see buyers here but stops on longs needed below 2470 for 2463/61. Cover any shorts here and attempt longs as there is very little chance of the market falling any further at this stage.
charmercharts.com
03.02.2012
SUPPORT
2469/68
2450
2433
2423/21
2414
2399/95
2372/69
2345
2336/34RESISTANCE
2476/78
2486/89
2492/97
2509/11
2540/44
2554/56
2576/77
2587/89
2604/08SHORT TERM FIBONACCI
23.6 2446 38.2 2418 50.0 2396 61.8 2373 78.6 2344 Eurostoxx Mar Contract
Eurostoxx headed higher to the 2492 resistance, stopping short of our target at 2502/09. The market then formed a big key reversal on the hourly chart which does put further gains in doubt at this stage.
As stated yesterday at 2502/09 there is a combination of many resistances including longer term trend lines and Fibonacci retracements. Longer term players may have this area marked and have decided to exit longs just before which is why we did not quite make it and saw such a sudden reversal. If attempting short here today place stops on shorts above 2515 for 2540/44.
If we continue to hold below 2509 we have a longer term double top pattern in place which should put the market under pressure in to next week. Back below 2470 sees 2450/46 for short covering. Any longs here need stops below 2440 for a test of 2418/14 which is where we should see the market bottom out today.
charmercharts.com
02.02.2012SUPPORT
2469/68
2450
2433
2423/21
2414
2399/95
2372/69
2345
2336/34RESISTANCE
2476/78
2486/89
2492/97
2509/11
2540/44
2554/56
2576/77
2587/89
2604/08SHORT TERM FIBONACCI
23.6 2438 38.2 2411 50.0 2390 61.8 2369 78.6 2341 Eurostoxx Mar Contract
Eurostoxx hovered below 2468 for most of the day and then finally broke higher in the afternoon.
We had hoped this level would hold the upside again. However we have managed to close above here and the 200 day moving average for the first time which should now allow us to stretch to 2502/09. There is a combination of many resistances here so unload any longs and attempt shorts up in this area once again. Stops on shorts above 2515 for 2540/44.
A pullback finds support at 2463/60 and then 2450/48. Attempt longs here adding down to 2438 with stops below 2428 as a break below here would lead to a test of very good support at 2416/12. Attempt longs here once again with stops below 2405.
European Government Bond Futures
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charmercharts.com
07.02.2012
SUPPORT
138.70
138.61/60
138.41
138.26
138.12
137.92
137.83/79
137.64
137.48/45**
137.33RESISTANCE
138.88
138.98
139.07/12
139.26
139.42
139.50
139.58
139.79
139.89
140.01SHORT TERM FIBONACCI
23.6 139.27 38.2 138.88 50.0 138.56 61.8 138.25 78.6 137.85 German Bund Mar Contract
Bunds struggled at 138.98 as predicted, stretching only as far as 139.05.
Overall pressure remains to the downside this week but we may try for the upside today for a
chance to establish shorts. 138.98/05 should remain tough to beat and worth attempting shorts but
stops needed above 139.26 which could allow a test of 139.50/59.If we hold below 138.60/61 we have 138.22/13 the Feb low so far, likely to be retested. If this fails
we take this as a sign of continued weakness and we look for further downside moves. Any longs
need stops below 137.92 as we will see 137.48/45 then as a target for later in the week.
charmercharts.com
06.02.2012
SUPPORT
138.12
137.92
137.83/79
137.64
137.48/45**
137.33
137.15/12
137.05
136.83/75
136.60RESISTANCE
138.26
138.41
138.60/61
138.70
138.88
138.98
139.07/12
139.26
139.42
139.50SHORT TERM FIBONACCI
23.6 139.27 38.2 138.88 50.0 138.56 61.8 138.25 78.6 137.85 LONG TERM FIBONACCI
23.6 138.55 38.2 137.48 50.0 136.62 61.8 135.76 78.6 134.70 German Bund Mar Contract
Bunds once more faltered on the topside and failure at 139.60 triggered a downside move as expected with the market coming to 138.13. You can see above that the 61.8% short term fib level is located at 138.25 and this is where the market closed.
We are oversold on short term charts, but this is to be expected after Fridays action however, we are not on the daily charts. in fact completely the opposite. We have just turned negative on the stochastic side of things and therefore we still look for weakness. Now if we fail to break 138.60/61 we take this as a sign of weakness and we look for further downside moves and if we lose 137.92 we will see 137.48/45 then as a target for early this week,
If above 138.61 we see 138.88 to 138.98 targeted but this should be the top and we would look for failure in this region.
charmercharts.com
03.02.2012
SUPPORT
139.26
139.12/07
138.99
138.88*
138.84
138.70
138.61/60
138.54/53
138.41
138.26RESISTANCE
139.42
139.50
139.58
139.69
139.79
139.89
140.01
140.23***
140.44
141.02SHORT TERM FIBONACCI
23.6 139.27 38.2 138.88 50.0 138.56 61.8 138.25 78.6 137.85 LONG TERM FIBONACCI
23.6 138.55 38.2 137.48 50.0 136.62 61.8 135.76 78.6 134.70 German Bund Mar Contract
Bunds failed again on the topside and came sharply lower through 138.99 for th3 38% short term
fib level of 138.88. We have seen a little recovery von the close, but still the market remains looking
under pressure whilst we have created this double top formation on both the med and short
term charts.We would look for weakness again this morning if we can hold below 139.50. we would expect another
challenge on the 138.88 area. Here cover shorts Re-sell below 138.84 as a break below here
would keep the market looking under pressure, leading us lower for 138.56/53.
If we manages to cling onto support early in the session and break back above 139.50 we could see
one more last gasp attempt at 139.69 possibly 239.79 before the market runs out of steam again.
charmercharts.com
02.02.2012SUPPORT
139.12/07
138.99
138.92
138.84
138.70
138.61/60
138.54/53
138.41
138.26
137.92RESISTANCE
139.26
139.35/42
139.58
139.69
139.79
139.89
140.01
140.23***
140.44
141.02SHORT TERM FIBONACCI
23.6 139.27 38.2 138.88 50.0 138.56 61.8 138.25 78.6 137.85 LONG TERM FIBONACCI
23.6 138.55 38.2 137.48 50.0 136.62 61.8 135.76 78.6 134.70 German Bund Mar Contract
Bunds just couldnt hold it together yesterday and came sharply lower after failing at 139.77. However, we did really hold 139.00 and this will be the key to the market again this session.
We would be looking at buyer coming at these lower levels, trying to drive us higher, we would only take a bearish stance if we broke through the 139 area and the move was sustained, then we would see the Bund coming quite a bit lower for 138.55/53 before buyers returned.
Now if after this slightly more weaker close we do hold 139, look for another attack on the topside with 139.69/79 the immediate targeted area. We would view to cover longs to here. We would reinstate longs if above 139.89 as this would trigger a move to 140.23 where we would expect failure.
-
charmercharts.com
07.02.2012
SUPPORT
125.28/25
125.15/17
125.05
124.94
124.75/71**
124.60/57
124.36/31
124.16
124.06/05RESISTANCE
125.47/50
125.58/61
125.69/70**
126.05
126.39
126.81
121.62/65
121.69
121.82SHORT TERM FIBONACCI
23.6 125.37 38.2 125.17 50.0 125.00 61.8 124.84 78.6 124.63 LONG TERM FIBONACCI
23.6 124.72 38.2 124.13 50.0 123.66 61.8 123.18 78.6 122.59 German Bobl Mar Contract
Bobl traded back up towards the 125.50 level, and as we expected sellers came back in and back down we came. We look to have held the 125.28 support on the close and so we look for the market to trade higher in todays session.
An open above this support sees us look to the 0.236 fib at 125.37 We would again expect sellers to come in here so attempt shorts keeping stops above the previously mentioned resistance at 125.50. A break above here targets the highs at 125.69/70.
If we fail to hold over 125.28 support sees 125.17 and if we fail here we would expect a swift move down to the the 50% fib level and yesterdays lows at 125.01/124.99. We would cover shorts here re selling a break below here looking for a move lower to 124.84 and then 124.73. As last weeks lows this may hold the downside for today but if not next support is found at 124.61 before 2012 lows at 124.31
charmercharts.com
06.02.2012
SUPPORT
124.75/71**
124.60/57
124.36/31
124.16
124.06/05
123.98
123.84/82
123.68/63
123.51RESISTANCE
124.94
125.05
125.17
125.25/28
125.47/50
125.58/61
125.69/70**
126.05
126.39SHORT TERM FIBONACCI
23.6 125.37 38.2 125.17 50.0 125.00 61.8 124.84 78.6 124.63 LONG TERM FIBONACCI
23.6 124.72 38.2 124.13 50.0 123.66 61.8 123.18 78.6 122.59 German Bobl Mar Contract
Bobl traded to target of 125.50 and failed, trading down to 124.75 target which held. Now this 125.75 area represents the first medium term 23.6% fib level and therefore it is not surprising the market held here.
We are slightly oversold on the 60 min charts, but medium term daily charts have turned negative and this, coupled with the double top pattern. does make us look weaker over the next few weeks.
If we can hold below 125.17 on any correction back we would be sellers up to here, looking for another attempt at 124.75. Again this should hold at the 2nd attempt and we wait for the 3rd time of trying it and on the 3rd time we would expect a break which would take us lower with 124.13 as your target.
Now above 125.28 and we may well liquidate shorts as there may be a bit more on the topside but again we look limited to 125.50 and we should see quite a bit of selling pressure up at these higher levels.
charmercharts.com
03.02.2012
SUPPORT
125.28/25
125.17
125.09/05
124.94
124.86/84
124.73/71
125.60/57
124.36/31
124.15RESISTANCE
125.47/50
125.58/61
125.69/70**
126.05
126.39
126.81
121.62/65
121.69
121.82SHORT TERM FIBONACCI
23.6 125.37 38.2 125.17 50.0 125.00 61.8 124.84 78.6 124.63 LONG TERM FIBONACCI
23.6 124.72 38.2 124.13 50.0 123.66 61.8 123.18 78.6 122.59 German Bobl Mar Contract
Bobl once more fasiled on the toside, and now we are left with a clear Double Top, which is what we
have been looking for this week.. After backing away we tried for 125.17, but held thus seeing shorts
covered.The lower close however is conducive of further weakness for this session, and we look for a break of
125.17 which would lead us lower to 125.05 initially. However...the chart pattern is negative and we
would be looking for the Bobl to weaken further with 124.75/71 the first objective. We may see a lttle
profit taking around this support...but we would be looking still for further weakness and we have
124.31 to 124.16 as our overall objective. Now obviosly this may not happen for a few days, but keep
this in mind and place trades accordingly.Resistance from current levels is at 125.50. If we clamber above here we are still expecting rallies to
be short lived and we would still be looking to sell ..any level to 125.70.
charmercharts.com
02.02.2012SUPPORT
125.28/25
125.17
125.09/05
124.94
124.86/84
124.73/71
125.60/57
124.36/31
124.15RESISTANCE
125.47/50
125.58/61
125.69/70**
126.05
126.39
126.81
121.62/65
121.69
121.82SHORT TERM FIBONACCI
23.6 125.37 38.2 125.17 50.0 125.00 61.8 124.84 78.6 124.63 LONG TERM FIBONACCI
23.6 124.72 38.2 124.13 50.0 123.66 61.8 123.18 78.6 122.59 German Bobl Mar Contract
Bobl held the topside beautifully yesterday...seeing shorts reestablished. We have come lower...closing lower and there seem to be nothing left on the topside and we should trade lower again today…
We are a little oversold on the 60 min charts therefore we would advise sellers not to come in at lower levels, but come in on a corrective bounce...The rally should once more hold good resistance at 125.58/61 and here is where we would enter shorts, keeping stops then above 125.70.
Now if we do not bounce initially we see 125.28/25 as quite good support...However if we lose 125.17 we are looking a tthe market coming lower once more and we see this to 125.05 / 124.94 quite quickly..
If we get to this latter support we will reasses the market.
-
charmercharts.com
07.02.2012
SUPPORT
110.36
110.33
110.29/28
110.23
110.18
110.14/13
110.08/07
110.00RESISTANCE
110.40/39
110.42
110.44
110.47/49
110.52/53
110.58/60
110.63/64
110.67/69SHORT TERM FIBONACCI
23.6 110.34 38.2 110.27 50.0 110.22 61.8 110.16 78.6 110.11 LONG TERM FIBONACCI
23.6 110.16 38.2 110.00 50.0 109.89 61.8 109.76 78.6 109.61 German Schatz Mar Contract
Schatz managed to get above and hold above support at 110.33 and tested 110.42. We still remain under pressure and we would need to see above the highs at 110.44 to alleviate the pressure on the market
Below 110.37/36 we have previously mentioned support at 110.33, next fib support at 110.27 before the neckline at 110.25.Below here we have further fib support at 110.23/22 and if we see below here we look for good support at 110.17 where we would look to attempt longs keeping stops below support at 110.10.
Resistance is at 110.40 above here we have resistance at 110.42 before the highs at 110.44 where we would look to attempt shorts keeping stops at the 110.47/48 level. If we get above here look to resistance at 110.52.
charmercharts.com
06.02.2012
SUPPORT
110.33
110.29/28
110.23
110.18
110.14/13
110.08/07
110.00
109.95RESISTANCE
110.36
110.40/39
110.42
110.44
110.47/49
110.52/53
110.58/60
110.63/64SHORT TERM FIBONACCI
23.6 110.34 38.2 110.27 50.0 110.22 61.8 110.16 78.6 110.11 LONG TERM FIBONACCI
23.6 110.16 38.2 110.00 50.0 109.89 61.8 109.76 78.6 109.61 German Schatz Mar Contract
Schatz fell further on Friday breaking through support at 110.33.
We now look set to come down further to next fib support at 110.27 before the neckline at 110.25.Below here we have further fib support at 110.23/22 and if we see below here we look for good support at 110.17 where we would look to attempt longs keeping stops below support at 110.10.
Resistance is at 110.37 before 110.40 above here we have resistance at 110.42 before the highs at 110.44 where we would look to attempt shorts keeping stops at the 110.47/48 level. If we get above here look to resistance at 110.52.
charmercharts.com
03.02.2012
SUPPORT
110.33
110.29/28
110.23
110.18
110.14/13
110.08/07
110.00
109.95RESISTANCE
110.36
110.40/39
110.42
110.44
110.47/49
110.52/53
110.58/60
110.63/64SHORT TERM FIBONACCI
23.6 110.34 38.2 110.27 50.0 110.22 61.8 110.16 78.6 110.11 LONG TERM FIBONACCI
23.6 110.16 38.2 110.00 50.0 109.89 61.8 109.76 78.6 109.61 German Schatz Mar Contract
Schatz fell having failed at the highs on Wednesday, we came down to support at 110.33. As we have said 110.44 is the big level and we need to get above here to alleviate the pressure the market is under, however stochastics have turned and we do look to come down further in todays session.
Support on the downside is found at 110.33 before fib support at 110.28/7. Below here we have further fib support at 110.23/22 and if we see below here we look for good support at 110.17 where we would look to attempt longs keeping stops below support at 110.10.
First resistance is at 110.37 before 110.40 below here we have resistance at 110.42 before the highs at 110.44 where we would look to attempt shorts keeping stops at the 110.47/48 level. If we get above here look to resistance at 110.52.
charmercharts.com
02.02.2012SUPPORT
110.39/40
110.36
110.33
110.29/28
110.23
110.18
110.14/13
110.08/07RESISTANCE
110.42
110.44
110.47/49
110.52/53
110.58/60
110.63/64
110.67/69
110.72/73SHORT TERM FIBONACCI
23.6 110.34 38.2 110.27 50.0 110.22 61.8 110.16 78.6 110.11 LONG TERM FIBONACCI
23.6 110.16 38.2 110.00 50.0 109.89 61.8 109.76 78.6 109.61 German Schatz Mar Contract
Schatz tested the highs at 110.44 yet again but couldn't break above it, we have tested this level several times over the past 3 weeks and we haven't managed to get above it. This is the big level and we need to get above here to alleviate the pressure the market is under.
Support on the downside is found at 110.40 before Mondays lows at 110.37 and then 110.33 before fib support at 110.28/7. Below here we have further fib support at 110.23/22 and if we see below here we look for good support at 110.17 where we would look to attempt longs keeping stops below support at 110.10.
First resistance is at 110.42 before the highs at 110.44 where we would look to attempt shorts keeping stops at the 110.47/48 level. If we get above here look to resistance at 110.52.
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charmercharts.com
07.02.2012
SUPPORT
115.19/21
115.09/01
114.95
114.78
114.52/49
114.25
113.92/90
113.74/72
113.36RESISTANCE
115.47
115.69
115.81
116.00
116.11
116.30
116.50
116.63
116.93SHORT TERM FIBONACCI
23.6
115.54 38.2
115.87 50.0
116.14 61.8
116.41 78.6
116.79 10 Years GILTS Mar Contract
Gilts bounced yesterday leaving us looking at a very obvious double bottom and as we failed to test the lows it looks like the bounce should continue.
If we see the bounce continue look to resistance at 115.45 and then 115.58/59 before longer term fib level 115.67/71. If this fails look to 115.84/87 before 116.11/14. Above here look to Fridays highs at 116.35 up to longer term fib resistance at 116.44 this area should hold any bounce for the time being so would be worth attempting shorts in this region keeping stops above 116.51/55. Above here next resistance at 116.72.
If we see sellers come back into the market we look to yesterdays lows at 115.25 before last weeks lows at 115.01 down to 2012 lows at 114.95 a break below here sees us break the double bottom formation and this would be pretty bearish looking into the next couple of weeks. look to 114.78 before 114.60. Below here we look to 114.43 which is decent support and should hold at first attempt. Any break below here sees us look longer term down to 113.55/66 with 113.90/00 in between.
charmercharts.com
06.02.2012
SUPPORT
115.19/21
115.09/01
114.95
114.78
114.52/49
114.25
113.92/90
113.74/72
113.36RESISTANCE
115.47
115.69
115.81
116.00
116.11
116.30
116.50
116.63
116.93SHORT TERM FIBONACCI
23.6
115.54 38.2
115.87 50.0
116.14 61.8
116.41 78.6
116.79 10 Years GILTS Mar Contract
Gilts slammed lower on Friday to a good area of support around the 2012 lows between 114.95 and
115.05. We saw a bit of a bounce from here.We are oversold on the 4 hourly so could see the bounce continue, if this is the case resistance is found at 115.45 and then 115.58/59 before longer term fib level 115.67/71. If this fails to hold the bounce look to 115.84/87 before 116.11/14. Above here look to Fridays highs at 116.35 up to longer term fib resistance at 116.44 this area should hold any bounce for the time being so would be worth attempting shorts in this region keeping stops above 116.51/55. Above here next resistance at 116.72.
If we see further losses look to last weeks lows at 115.01 down to 2012 lows at 114.95 a break below here sees us look to 114.78 before 114.60. Below here we look to 114.43 which is decent support and should hold at first attempt. Any break below here sees us look longer term down to 113.55/66 with 113.90/00 in between.
charmercharts.com
03.02.2012
SUPPORT
116.00/06
115.82/80
115.71/68
115.45/49
115.19/21
115.09/01
114.92/86
114.78
114.52/49RESISTANCE
116.11
116.30
116.50
116.63
116.93
117.03/13
117.37/39
117.62/68
117.95/03SHORT TERM FIBONACCI
23.6
116.72 38.2
116.39 50.0
116.11 61.8
115.84 78.6
115.45 10 Years GILTS Mar Contract
Gilts continued their downside move today and the market bottomed at 115.75 just above our buy signal
at 115.67 and we saw a bounce from here up to resistance at 116.10.We may see this bounce continue as we are slightly oversold on the 4 hourly charts. If we get above
116.10 we may see up to 116.39/44 above here we have 116.70/72. If we get above here next resistance
is 117.03/09 before Tuesdays highs at 117.27. Above here we would be set to test the highs at
117.68.we would look to enter shorts at this level as we would expect it to hold keeping stops above
117.95. above here we have 118.26.We have a bit of support at 116.02. Next support at 115.93/94 before previously mentioned good support
at 115.67 below here look to 115.45/48. we then have some support at 115.36 before longer term
strong support at 115.05. We would be buyers down here as we would be oversold keeping stops below
the lows at 114.95.
charmercharts.com
02.02.2012SUPPORT
116.30
116.14
116.00/06
115.82/80
115.71/68
115.45/49
115.19/21
115.09/01
114.92/86RESISTANCE
116.50
116.63
116.93
117.03/13
117.37/39
117.62/68
117.95/03
118.13
118.22/28SHORT TERM FIBONACCI
23.6
116.72 38.2
116.39 50.0
116.11 61.8
115.84 78.6
115.45 10 Years GILTS Mar Contract
Gilts had their first down day in 5 days and we came down to the 50% retracement of last weeks downside move at 116.32 despite this holding we closed below support at 116.44 so we may see further losses in todays session.
If the recent uptrend is over we have previously mentioned support at 116.44/39. Below here we have 116.23 and then 116.11. Next support at 115.93/94 before good support at 115.67 we would look for this area to hold the downside today and we could attempt longs looking for a bounce as we would be very oversold short term down here. Keep stops below 115.45/48
If a bounce continue first resistance is at 116.64/72 before 116.92 and then 117.10. Above here we have the recent highs at 117.27 before January highs at 117.68 we would look to enter shorts at this level as we would expect it to hold keeping stops above 117.95. above here we have 118.26.
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Stock Market Indexes
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charmercharts.com
07.02.2012SUPPORT
30397/330
30195
30082
30037/000
29942/904
29872/810
29739
29618/596RESISTANCE
30519/36
30602
30778
30854
30959/86
31291/15
31393AFRICA TOP40 INDEX
TOP40 has not been able to make it any higher with 30854 resistance area holding the highs last week. At the moment
this just looks like a pause for breath before the next run higher but with the market severely over bought
we have to watch carefully.
31393 is the all time high for this contract and we are so close now it seems unlikely that this level will not be
tested. Longs need to be covered ahead of this critical level. It should make sense to attempt shorts just below here
with a very good possibility we see heavy profit taking in this over bought market. Stops can be kept tight above
31500.
Pullbacks find support at 30528 to 30459 which did in fact hold the downside on Friday and again yesterday as
hoped. Attempt longs here again today with stops below 30390 for a dip to 30227 to 30183 where we need to try
longs once again.
charmercharts.com
06.02.2012SUPPORT
30602
30528/19
30397/330
30195
30082
30037/000
29942/904
29872/810RESISTANCE
30528
30602
30778
30854
30959/86
31291/15
31393SHORT TERM FIBONACCI
23.6 30225 38.2 30028
50.0 29886 61.8 29735 78.6 29543 AFRICA TOP40 INDEX
TOP40 has not been able to make it any higher with 30854 resistance area holding the highs last week. At the moment
this just looks like a pause for breath before the next run higher but with the market severely over bought
we have to watch carefully.31393 is the all time high for this contract and we are so close now it seems unlikely that this level will not be
tested. Longs need to be covered ahead of this critical level. It should make sense to attempt shorts just below here
with a very good possibility we see heavy profit taking in this over bought market. Stops can be kept tight above
31500.Pullbacks find support at 30528 to 30459 which did in fact hold the downside on Friday as hoped thus providing a
nice profit on the day. Attempt longs here again today with stops below 30390 for a dip to 30227 to 30183 where
we need to try longs once again.
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charmercharts.com
07.02.2012SUPPORT
72883
72114
72022/019
71546
71361/355
71114
70748/26
70385
70221RESISTANCE
73154
73456/82
73750
73627
74160
75959
76022
76306
77698SHORT TERM FIBONACCI
23.6 72462 38.2 71793
50.0 71252 61.8 70710 78.6 70022 TURKEY ISE 30 INDEX
ISE 30 continued higher through 73627 to reach 73750.
Next upside target on a break higher today is seen at 74160. It is entirely possible that we see the 100 week moving average at 74614 and long term 50% Fib at 74937 this week.
72510/470 offers some support and then 71793. Attempt longs here adding down to 71252/078.
charmercharts.com
06.02.2012SUPPORT
72883
72114
72022/019
71546
71361/355
71114
70748/26
70385
70221RESISTANCE
73154
73456/82
73627
74160
75959
76022
76306
77698SHORT TERM FIBONACCI
23.6 72462 38.2 71793
50.0 71252 61.8 70710 78.6 70022 TURKEY ISE 30 INDEX
ISE 30 continued higher through 73066 to reach the next target of 73456/82.
Next upside target on a break higher today is seen at 74160. It is entirely possible that we see the 100 week moving average at 74614 and long term 50% Fib at 74937 this week.
72510/470 offers some support and then 71793. Attempt longs here adding down to 71252/078.
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charmercharts.com
07.02.2011
SUPPORT
1631
1628
1614/11
1605
1596
1581
1575
1567
1561RESISTANCE
1648
1662
1666
1678/80
1701
1703/4
1709
1721
1746SHORT TERM FIBONACCI
23.6 1618 38.2 1604 50.0 1592 61.8 1581 78.6 1565 LONG TERM FIBONACCI
23.6 1529 38.2 1466 50.0 1416 61.8 1365 78.6 1292 Russia RTS Index
RTS had a quiet day yesterday pausing for breath after moving in almost a straight line. As we expected it was too early to start speaking of a top as the gains have continued in todays session so far.
We are above yesterdays highs so we look to resistance at 1648 and then 1660/63 on our way to the next upside target at 1678/80. Above here look to 1701.
If we see any sort of a pullback first support is found at 1618 then 1604/5 before Fridays lows and fib support at 1598. If this fails to halt the pullback look to 1592 before better support at 1581/83. Below here look to 1564/66 and
then 1544/46.
charmercharts.com
06.02.2011
SUPPORT
1614/11
1605
1596
1581
1575
1567
1561
1554
1544RESISTANCE
1628*
1631
1674/78
1680
1701
1703/4
1709
1721
1746SHORT TERM FIBONACCI
23.6 1597 38.2 1578 50.0 1560 61.8 1545 78.6 1518 LONG TERM FIBONACCI
23.6 1529 38.2 1466 50.0 1416 61.8 1365 78.6 1292 Russia RTS Index
RTS continued on higher stopping just short of our primary target at 1628. We have already seen above this level today but have since seen a small pullback. Despite being massively overbought on all time frames this trend is so strong
that we must be wary of short positionsCover all longs in this area and look to re buy a break above todays highs at 1632, resistance is then found at 1648 and 1660/63 on our way to the next upside target at 1678/80. Above here look to 1701.
If the 1628 level holds, support on a pullback is found at 1614/11 then 1606 before Fridays lows and fib support at 1598. If this fails to halt the pullback look to 1590 before better support at 1578/77. Below here look to 1560/59 and
then 1545/43.
