Sunday, 26 February 2012

S&P 500 and NASDAQ 100 continue upwards inside tight trend channels

S&P 500.


AUD/USD re-tests up trend line

I think that while last week's low around 1.06 holds, the market is biased towards higher prices. Remember that the symmetrical triangle pattern shown in past weeks gives a target of over 1.20.

Here's the daily chart.

The weekly chart shows that the market closed last week above the trend line drawn from the early 2009 low.

EUR/USD trending up on daily chart

The EUR/USD is now clearly trending upwards. Remember that the measured target from the wedge bottom is 1.42, at the top of the wedge

Silver at critical juncture

Silver is testing the trend line drawn from the April 2011 high and also testing the October high..

Gold trending up

Gold is trending upwards on the daily chart, and nearing the November highs, which may act as resistance if the market reaches that level.

ASX 200 ascending triangle back on the cards?

Given the clear patterns on other markets, and the question mark on the ASX 200, why both trading it?