Forex daily technical analysis report (march 27, 2014)

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Date: 27/03/2014 www.sevenstarfx.com

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Daily Technical Analysis Report





GOLD ST Trend Down

Obj: 1284.00- TRP: 1356.70

DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 1316.20 1320.60 1330.00+/-

SUPPORTS 1300.30 1295.00 1284.00-

Comment: The market is bearish and vulnerable to further washouts at 1284-1275. A sustained press

under 1300- should help propel selloffs. Any corrections should try to setup a bear flag and stay

under 1330-. A reluctance to climb over 1320 will encourage selloffs. A close over 133480* is needed

for a near term flip up with retracements back to 135670*.

SILVER ST Trend Down

Obj: 19.520 TRP: 20.990


RESISTANCES 20.160 20.315 20.520

SUPPORTS 19.600- 19.500 -

Comment: The market is short term bearish and warns for a wash to 1952-. A close under 1945 will

send declines against old lows from Dec-January. If trade is reluctant to extend under 1950, be alert

for a bounce into several corrective days, likely starting flagging ongestion up around 2030-2060.

Closes over 2061 and 2099 are needed to signal a bullish turn.

COPPER ST Trend Sdwys /Down

Obj: 2.7100 TRP: 3.0885


RESISTANCES 3.0300+/- 3.0885* -

SUPPORTS 2.9745 2.9255 2.9000-

Comment: Overall the market is still bearish and lined up to test at 290-. A complete retracement of

Tuesday’s range will encourage selloffs. A close under 28770 is needed to add to washouts to 271.

Another push over 303 would suggest friendly corrective forces are gaining control and will lift trade to

Commodities | Precious - Metals



test at 30885* resistance for a bottoming turn.



CRUDE OIL ST Trend Sdwys/Down

Obj: 101.62 TRP: 98.32

JANUARY FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 100.77 101.04 101.62*

SUPPORTS 99.71 98.98 98.32*

Comment: The climbing recovery weeks has muscled to a short term upturn and projects rallies to a

retracement resistance level at 10162*. Trade is poised for rallies and stable action over congestion

highs at 10025+ should encourage rallies today. Only a close under 9832* marks a reversing turn and

rekindles a projection to 9658*.

NATURAL GAS ST Trend Sdwys

Obj: 4.248 TRP: 4.504


RESISTANCES 4.442 4.460 4.504*

SUPPORTS 4.340 4.338 4.248*

Comment: The market is still bearish and pressing to test a support point at 4248*. A close below 4248*

is bearish and could send a wash to 4029*. Tuesday’s surge higher hints for recovery action that could

carry over into today, but only a close over 4504* signals a reversal turn to bull trending retracements.

Rally attempts that struggle to climb past 4447 will likely roll off back into bear trending action.

Commodities | ENERGY



MINI S&P ST Trend Up

Obj: 1821.00 TRP: 1863.25


RESISTANCES 1849.50 1854.25 1863.25*

SUPPORTS 1837.00 1826.00 1821.00*

Comment: Yesterday’s outside bear day signals a short term negative turnover. The stalled / failed

secondary rallies of recent weeks caution for a reactionary selloff. A close under 1821* should be

respected for a larger topping downturn that could wash trade below 1800-. A close back over

186325* is needed to rekindle bull trend forces.

MINI DOW ST Trend Up

Obj: None TRP: 16094


RESISTANCES 16287 16295 16370+

SUPPORTS 16152 16094* 15950-

Comment : The market posture retains a short term bull bias, signaling for a secondary drive to

challenge previous swing highs over 16400+. A breakout at new highs is needed to launch advances.

Yesterday’s outside bear day warns minor corrective consolidation for a few days below 16200-, but

only a close under 16094* signals a turn to bear trending trade.

MINI NASDAQ ST Trend Up

Obj: 3531.00 TRP: 3671.25


RESISTANCES 3596.00 3610.50 3671.25*

SUPPORTS 3549.00 3531.00 3488.00-

Comment: The market is showing topping / bearish signals and open to declines at 353100 and

possibly lower. Yesterday’s close under Monday’s low should motivate selloffs into the end of the

week. Any minor corrections should struggle just over 360000+ and sideways action will bear flag. Only

T Bonds | INDICES



a close over 367125* rekindles bull trend forces.



SOYBEANS ST Trend Sdwys/Up

Obj: None TRP: 1401.50


RESISTANCES 1442.00 1450.00 1460.00

SUPPORTS 1419.00 1411.00 1401.00

Comment: The market is still short term bullish, but another rejection up around the last swing high

and drop off through 1411 3/4 / 1401 1/2* will mark a turn to peaking trade. A close under 1401 1/2*

opens up retracement potential to 1360-. On the other hand, a breakout over 1460 signals a significant

upside breakout and should trigger a drive to 1490+.

SOYMEAL ST Trend Sdwys/Up


JANUARY FUTURE LEVE1 LEVEL2 LEVEL3

RESISTANCES 471.50 482.00+ -

SUPPORTS 462.50 457.70*- 446.50*

Comment: The market has moved back int0 a short term bull position, ready to challenge for a

breakout over 47150 and in turn launch a drive beyond 482+. Another back off from 470+ may yet

foster a few defensive consolidation days. Mostly sideways action over 45770* will allow trade to bull

flag. A close under 45770* marks a turn back against 44650*.

SOYBEAN OIL ST Trend Sdwys/Up

Obj: 40.16 TRP: 42.33


RESISTANCES 41.31 41.68 42.33*

SUPPORTS 40.60+/- 40.16* -

Comment: The market is bearish. The sliding declines from last week show a bear target to a 4016*

retracement support level. Any attempts to correct back through last Thursday’s break will likely fade

under 4200- and lead into a bear flag setup. Only a close over 4233* marks a turn into sustained

Commodities | GRAINS



corrections. Watch for a bounce off 4016* on the first test.



WHEAT ST Trend Down


MARCH FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 704.00 708.00 716.00

SUPPORTS 690.00* 687.00 674.00

Comment : The market is bullish, but needs to hold off 690* support to promote secondary rallies. A

breakout over last week’s high creates potential for a blow off run over 750+. The past two day slide

through Monday’s range is hurting bull forces. A close under 690* marks a reversal into topping

trade and likely selloff into the 670-660 levels.

CORN ST Trend Down



RESISTANCES 488.00 491.00 495.00*+

SUPPORTS 483.00 477.00 472.00*

Comment: The market is in a bull trend, but secondary rallies are being stopped by 491 1/2* and 495*

resistance. A breakout over 495* rekindles the bull drive and breakout over the last spike high alerts for

driving rallies beyond 515+. A press under 477 projects selloffs to attack 472* support. A close under

472* confirms a short term top and selloff under 460-.





SUGAR ST Trend Down

Obj: 16.50- TRP: 17.79


RESISTANCES 17.50 17.60 17.79*

SUPPORTS 17.17 16.96 16.50-

Comment: The market remains in a bear downturn with potential for another selling wave to 1650-

.Yesterday’s sharp retracement hints for corrections today-Friday, but only a close over 1779*

rekindles bull trend forces. Recovery action that fades under 1779* will peel off into secondary

selloffs. A close under 1697 renews bear trending moves.

COFFEE ST Trend Sdwys/Up

Obj: 159.50 TRP: 193.05


RESISTANCES 179.75 183.30* 193.05*

SUPPORTS 170.45 166.00 159.00

Comment : The market is bearish and still suggests a larger selling wave to below 160-. We may see

another flagging corrective day, but any corrections should struggle to rally over 18330*. Tight

congestion will setup for selloff attempts to 15950-. A close over 19305* is needed to kick off a

secondary bull drive.

COCOA ST Trend Up

Obj: 2910.00 TRP: 2993.00


RESISTANCES 2970.00 2993.00* 3002.00

SUPPORTS 2933.00 2910.00 2909.00

Comment: The drop off late last week signals a short term turnover and warns for selloffs to test down

along 2910-. A close under 2900 could open up a larger selling wave. Any corrections will likely remain

Commodities | SOFTS



trapped to sideways congestion under last Thursday’s gap. A close over 2993* is needed to rekindle bull

trend forces.



COTTON ST Trend Down

Obj: 89.64 TRP: 94.86


RESISTANCES 93.30+ 94.86* 97.35

SUPPORTS 91.05 90.00 89.64*

Comment: The reversal with yesterday’s extreme range, signals a negative flip in the short term trend

and calls for pressured trade to test a key 8964* support. A close under 8964* marks a multi-week

peaking turn and should foster selloffs to 8600-. Suspect a fight to bounce off 9000-8964* on the first test

to lift trade into sideways consolidation for several days. A close over 9486* is needed to rekindle bull

trend forces.



EURO ST Trend Sdwys/Down

Obj: 1.3666 TRP: 1.3882


RESISTANCES 1.3814 1.3882* 1.3930+

SUPPORTS 1.3760 1.3747 1.3666*

Comment : Last week’s break still signals a bear turnover and potential for selloffs to 13666*. We may

see additional sideways flagging days, but only a close back over 13882* rekindles bull trend forces.

Most likely sideways congestion will setup for a bear leg selloff to 13666* before we see a turn into a

sustained recovery phase.

B POUND ST Trend Sdwys/Up

Obj: 1.6440 TRP: 1.6672


RESISTANCES 1.6591 1.6600 1.6672*

SUPPORTS 1.6440 1.5356- -

Comment: The market remains in a bear trend with potential for declines to 16440. Sustained action

under 166- will likely roll trade back to bearish trending action. A close back under 16499 should

release a bear leg to 16440-. Corrective rebounds will need to power back through congestion and

close over 16672* to trigger a reversing turn back to higher prices..

J YEN ST Trend Down



RESISTANCES 0.9847 0.9893 0.9920

SUPPORTS 0.9668 0.9734* 0.9697

Comment: The market is hanging in the middle of recent congestion, but has a slight bull bias based on

congestion holding off the balance point between bull / bear forces at 9734*. A close under 9734* signals

for a selloff below 9680-. Further basing over 9734* could start rallies, but a close over 9893+ is needed

Forex | CURRENCIES



to project a drive over 100+.



AUSSIE$ ST Trend Down

Obj: 0.9362 TRP: 0.8968


RESISTANCES 0.9210 0.9280 0.9362+

SUPPORTS 0.9138 0.9075- 0.8968*

Comment: The market shows a bottoming upturn, signaling for rallies to 9200+ as well as potential

for a run to 9362. Any corrective dips should hold along the upper edges of recent congestion at 9075-

to keep a friendly alignment. Likely any 2-3 day congestion off 9075 will bull flag. Only a close under

8968* marks a reversing turnover.

CANADIAN$ ST Trend Sdwys/Down



RESISTANCES 0.9006* 0.9050 0.9111

SUPPORTS 0.8957 0.8912 0.8875

Comment: Overall the market is bearish and retains potential for selloffs to 8750-8710. However, we

need to see a drop off through 8875 to recapture bear trend forces. Trade has climbed up against the

9006* resistance and balance point between bull / bear trend forces. A close over 9006* will signal a

reversal to bottoming trade and suggest rally attempts to push past 9100+.

SWISS FRANC ST Trend Sdwys



RESISTANCES 1.1375 1.1381 1.1418*

SUPPORTS 1.1278 1.1269 1.1219

Comment: The market has turned the trend down and drop out from congestion of the past few days

should send a break below 11240-. A close under 11215 is bearish. Any corrective congestion that

remains under Tuesday’s range high will remain in a negative alignment. A pop over 11388 is needed to

run trade to attack 11418* and attempt a new bull advance.

Disclaimer: This Report Is only for General Information. Opinions/Estimates Contained Herein is Subject to Change

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Forex daily technical analysis report (march 27, 2014)