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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 Exited at 1.3140.GBP/USD Await fresh signal.USD/JPY Await New Buy Trade Setup Above 80.00.USD/CHF Looking to sell.USD/CAD Awaiting New Buy Trade Setup.AUD/USD Exited at 1.0050.GBP/JPY Await fresh signal.EUR/JPY Await new setup. 100.05EUR/GBP Sell limit 3 0.8510 0.8395/0.8300/0.8142 0.8615EUR/CHF Sell Stop 3 1.2130 1.2030/1.1526/1.1002 1.2230GOLD SHORT 2 1705 1530/1300 (Entered 12/12/2011) 1705SILVER SHORT 2 34.1300 26.0700/23.3400 (Entered 01/11/2011) 34.1300

    DISCLAIMER &DISCLOSURESPlease read the disclaimer and thedisclosures which can be found atthe end of this report

    DAILY TECHNICAL REPORT21 December, 2011

    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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    DAILY TECHNICAL REPORT21 December, 2011

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    Short-covering around the key 1.3000 level.

    EUR/USD is unwinding mildly from oversold conditions, driven by short-

    covering as the market adjusts to a new bearish paradigm, following the

    break beneath that all-important psychological level at 1.3000.

    Our cycle analysis successfully signalled increased volatility within the

    first two weeks of December across risk proxies, including the equity

    and commodity markets. Expect some respite ahead of the holiday

    period.

    Watch for a sustained close beneath 1.3000 (psychological level) to

    resume EUR/USDs multi-month downtrend into 1.2870 (2011 major low).

    Near-term resistance can be found at 1.3215 and potentially even 1.3550

    (02 Dec high). Any rebound into these levels is likely to be short-lived.

    Inversely, the USD Index has extended its recovery higher to new 11-

    month highs, (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

    Exited at 1.3140.

    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(1.4043)

    BERMUDATRIANGLE

    FAILEDBREAKOUTS

    EUR/USD (Daily)

    BREAKOUTZONE(1.4000)

    1.3000 (PSYCHOLOGICAL)1.2870 (2011 MAJOR LOW)

    9 KEY SUPPORT(73.50-73.00)

    13

    USD INDEX

    200-DMA(75.95)

    DEMARKBUY SIGNALS

    BREAKOUT ZONE

    EUR 57.6%, JPY 13.6%, GBP 11.9%

    CAD 9.1%, SEK 4.2%, CHF 3.6%11 MONTH

    HIGH

    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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    DAILY TECHNICAL REPORT21 December, 2011

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    Short-term, long positioning favoured.

    GBP/USD continues to move back towards the 1.5780/70 double top in

    the hourly timeframe after breaking over the resistance of the hourly

    falling channel that had been containing price since the beginning of themonth.

    The movement of Sterling is likely to be affected by the movement in

    selected core Euro-Zone sovereign markets. In particular we note that

    Italian 10 year yields are still trading close to 7.00%. Daily structure is

    also suggestive of a return to test 7.00% and higher. A continuation of

    higher yields may see Sterling being adopted as a safe haven again.

    This reasoning would likely help to keep cable within its year long range.

    Failure to remain above 1.5423 will see an immediate target at 1.5272

    and then potentially trend-line support at 1.5110.

    S-T TREND L-T TREND STRATEGY

    Biased towards long positions in the very short-term.

    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

    mailto:[email protected]:[email protected]:[email protected]:[email protected]
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    DAILY TECHNICAL REPORT21 December, 2011

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    Weakening beneath 78.24 (DeMark Level).

    USD/JPY is still weak beneath 78.24 (DeMark Level), as pricecontinues to hold within a multi-day trading range (see hourly chartbelow).

    Confirmation beneath 77.25 (pivot level) would help trigger a third price

    retracement back to pre-intervention levels (PIR III) and potentially even a

    new post world war record low beneath 75.35 (PINL).

    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 (see top chart insert).

    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 Reports: CNBC /Squawk Box &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 hourly 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 (III) PIR III

    MULTI-YEARPATTERN

    ANTICIPATESBREAKOUT (85-80)

    USD/JPY (60 MIN)POST

    BOJ

    KEY PIVOT LEVEL (77.25) TRIGGERS

    POST INTERVENTION RETRACEMENT

    DEMARK

    SELL 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://www.cnbc.com/id/45301945http://www.cnbc.com/id/45301945http://www.cnbc.com/id/45301945http://65.55.53.237/id/15840232?video=3000062126&play=1http://65.55.53.237/id/15840232?video=3000062126&play=1http://65.55.53.237/id/15840232?video=3000062126&play=1http://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.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://65.55.53.237/id/15840232?video=3000062126&play=1http://www.cnbc.com/id/45301945http://www.fxstreet.com/webinars/sessions/session.aspx?id=d77a35a0-4a11-44fa-a883-c95e01661d21http://www.youtube.com/watch?v=rDHE6uEqm6w
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    DAILY TECHNICAL REPORT21 December, 2011

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    Unwinding from intraday resistance at 1.0425.

    USD/CAD is unwinding sharply from intraday resistance at 1.0425, which

    coincided with a short-term DeMark exhaustion signal.

    The move is accelerating lower within an intraday consolidation pattern

    (see lower chart) and we prefer to wait for a strong directional

    confirmation higher before initiating a buy trade setup.

    Until then, keep a watchful eye on support 1.0220. A break here would

    trigger further downside into 1.0000.

    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 top chart insert).

    EUR/CAD is retesting the base of an important multi-month distribution

    pattern. A break beneath 1.3393-79 (19th

    Sept low/61.8% Fib), signals an

    important breakdown into 1.3140 and would provide substantialcorrelation pressure onto EUR/USD.

    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(0.9886)

    CONFIRMATIONABOVE 1.0680

    OPENS LARGERRECOVERY

    DEMARKBUY SIGNAL

    USD/CAD (60 MIN)

    KEY RESISTANCE (1.0425)

    BULLCHANNEL

    DEMARKSIGNAL

    DEMARKSELL SIGNAL

    KEY SUPPORT (1.0250)

    mailto:[email protected]:[email protected]:[email protected]:[email protected]
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    Strong unwinding from oversold conditions.

    AUD/USD is unwinding strongly from oversold conditions, which also

    coincided with an intraday DeMark buy signal (see lower chart).

    Although this recovery sharp, it is likely to be short-lived as signaled by

    the DeMark signal. The bears must sustain below 1.0000 to further

    compound downside pressure on the rates multi-year uptrend and push

    back towards 0.9611.

    Elsewhere, the Aussie continues to weaken sharply, against the New

    Zealand dollar. Near-term price activity is mean reverting back into the

    200-day MA and we watch for further setbacks over the multi-day/week

    horizon.

    The Aussie dollar is also pairing back its mild recovery against the

    Japanese yen, while holding above the neck-line of its two-year

    distribution pattern. Watch for further downside scope into support at

    72.00 which would signal further unwinding of global risk appetite.

    S-T TREND L-T TREND STRATEGY

    Exited at 1.0050.

    AUD/USD

    Ron William, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 454

    AUD/USD daily chart, Bloomberg Finance LP

    AUD/USD hourly chart, Bloomberg Finance LP

    KEYZONE

    AUD/USD(1 YEAR)

    DEMARKSELLSIGNALS

    200-DMA(1.0405)

    AUD/USD(Weekly)

    38.2%(0.9144)

    50%(0.8546)

    61.8%(0.7947)

    3 YEARUPTREND

    UNDERPRESSURE

    STRUCTURALLEVEL

    AUD/USD (60 MIN)

    DEMARK

    BUY SIGNAL

    RANGE BREAKOUT

    mailto:[email protected]:[email protected]:[email protected]:[email protected]
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    Sustained over 122.23 suggests a fresh recovery leg higher.

    GBP/JPY has broken over the resistance of a falling hourly channel.

    Coupled with this we have seen a push over the 122.23 lower high. If

    this rise can be sustained then a fresh leg higher will be favoured to

    form for a swing all the way back to 127.32.

    A break back over 122.98 will add to a more medium-term bullish

    stance. A failure to do so will suggest that the recovery seen from the

    116.84 low is corrective in nature. This suggests scope for a return to

    119.38 and then potentially 116.84.

    We do however note that for the majority of December a 120.33 -

    122.64 range has been traded. A break out of this range is sought

    ahead of strategy formulation.

    S-T TREND L-T TREND STRATEGY

    Sell strategy removed. 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

    mailto:[email protected]:[email protected]:[email protected]:[email protected]
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    Breaks higher from extreme range bound conditions.

    EUR/JPY has met short-term support close to the key long-term low at

    100.76, reaching 101.05 so far, on a mid-market basis.

    Although a short-term recovery has followed, a larger swing higher isrequired to ensure that we are not in the midst of a corrective phase

    higher.

    The medium-term recovery that we have already witnessed from 100.76

    to 111.60 is viewed as the initial leg higher in a larger recovery structure

    and thus, while trade is maintained above 101.05, a further leg higher is

    favoured.

    We await a sustained resolution of the range trading conditions before

    formulating fresh strategy.

    Sustained under 100.76 will warn of a much larger continuation to the

    downside.

    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

    mailto:[email protected]:[email protected]:[email protected]:[email protected]
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    Approaches daily channel support.

    EUR/GBP remains weak in both the short and long-term timeframes.

    We note that price is now approaching the support of the daily channel

    that has contained the pair for the last 5/6 months. This potential

    support level lies near 0.8320 and constitutes a near-term target.

    However, we await a re-test of the old trend-line support as resistance

    ahead of possible short positioning.

    Short positioning in EUR/GBP may not experience as many false breaks

    going forward, due to the clear break under 1.3146 that has been

    witnessed in EUR/USD in recent trade.

    As detailed in other parts of this report, rising yields in the core Euro-

    Zone sovereign bond markets is a continued concern and one that may

    destabilise the FX markets going forward. Within this environment

    Sterling may well be judged the best of a bad bunch and to a degree be

    seen as a short-term safe haven.

    S-T TREND L-T TREND STRATEGY

    Sell limit 3 at 0.8510, Objs: 0.8395/0.8300/0.8142, Stop: 0.8615

    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

    mailto:[email protected]:[email protected]:[email protected]:[email protected]
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    Downside bias remains, while within a larger range.

    EUR/CHF has broken under our filter level at 1.2226 leading to us

    changing our sell strategy to a sell stop, as detailed below. We also

    note that the 50 week moving average has managed to contain the

    market on the upside, warning that the larger down-trend may not be

    over.

    The Italian 10 year sovereign yield continues to meet resistance close to

    the 7.000% level. A break over this level will place funding stresses on

    the Italian economy and may lead to the Swiss Franc being sought once

    again as a safe haven. As mentioned in prior reports, the low yield

    available on Swiss Franc deposits is unlikely to act as an impediment to

    it being sought as a safe haven.

    The 1.2000 level is the only level that the SNB has suggested they will

    defend. There is thus likely to be a large cluster of stops under this

    level, which if triggered, could herald a return towards the 1.0075 level.

    S-T TREND L-T TREND

    Sell stop 3 at 1.2130, Objs: 1.2030/1.1526/1.1002, Stop: 1.2230.

    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

    mailto:[email protected]:[email protected]:[email protected]:[email protected]
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    Gold re-testing its 200-day average

    Gold is temporarily 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

    triangle pattern breakout (see both daily and intraday charts). Downside pressure remains heavy from inter-market weakness across

    related risk proxies such as EUR/USD and equity markets. Moreover, there

    is still heightened risk for a much larger decline if we confirm a weekly close

    beneath $1600 and $1530 (swing low).

    A number of bargain hunting trend-followers will be watching this

    benchmark line in the sand for repeat support or a p otential big squeeze

    lower 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 summer 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 2: 1705, Obj: 1530, 1300, Stop: 1705

    GOLD

    Gold daily and weekly charts, Bloomberg Finance LP

    Ron William, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 454

    Gold intraday chart, with COT Liquidity, Bloomberg Finance LP

    200-DMABROKEN

    FIRST TIMEIN 3 YEARS!

    DEMARK SIGNALWARNED OF GOLDSOVERBOUGHTCONDITIONS

    $1800

    $1600

    DOWNSIDE: $1600 / $1530 / $1300UPSIDE: $1670/ $1760 / $1800GOLD KEY LEVELS

    $1532

    DOUBLETOP

    $1760

    CONFIRMATIONBENEATH $1532TARGETS $1300

    CYCLE FAVOURS DECLINEINTO $1300 & $1040-00

    TRENDCHANNEL

    (12 YEARS)

    GOLD (60 MIN)

    SHARP

    DECLINE

    WEAKRECOVERY

    PATTERNBREAKOUT

    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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    Weak bounce retesting $30.0000.

    Silvers weak recovery from oversold conditions is retesting key support at

    $30.0000. Only a sustained close below here would trigger a test of the

    previous swing low at $26.0700.

    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, Obj: 26.0700/23.3400, Stop: 34.1300

    SILVER

    Spot Silver hourly charts, Bloomberg Finance LP

    Ron William, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 454

    Spot Silver daily chart with Silver/Gold ratio, Bloomberg Finance LP

    KEYSUPPORT(26.0700)

    DEMARKSELL SIGNALS

    Silver (Daily)

    200 DMA(36.7345)

    13 YEAR LEVEL

    UNWINDING 70%FROMOVERSOLD TERRITORY

    Gold/Silver"Mint" Ratio

    SILVER (60 MIN)

    RANGE

    WEAK

    mailto:[email protected]:[email protected]:[email protected]:[email protected]
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