Market analysis, insights and trading ideas on various markets and products!

Spencer Li

Commodities on the rise – Indofood and Noble | Technical Analysis | Singapore Stocks

Commodities on the riseCurrently, I am long on indofood, and you can see from the chart that it is in a nice uptrend channel with quite some space to its next level of resistance at 2.58. Olam recently exhibited a similar pattern.

indofood

Noble seems to be the laggard in the commodities sector, but it has found decent support, also exhibiting a double bottom test, followed by a pullback. This double bottom pullback pattern is very bullish, plus it has just broken out of the price channel. 
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Spencer Li

Parkway – Bull Flag in uptrend channel | Technical Analysis | Singapore Stocks

Just came back from Prague, and it’s one of my favourite towns. Before I left, I tightened my stops for my shorts on Yanlord, and although it got hit at 1.64, my initial entry of 1.73 still yielded a satisfactory trade. Currently, with the uncertainty on the outcome of the Euro crisis, most markets are trading sideways with a downward bias.

Parkway is still headed up in a neat parallel price channel, and is currently forming what seems to be a double bottom bull flag. A good chance for entry would be on the double bottom pullback, and it would also be a 2nd entry. This means that we should wait for a bullish reversal bar signal before making an entry. Good luck!

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Spencer Li

EUR/SGD – going down, down, down…

eursgd 031910

EUR/SGD - going down
The Euro is going down, and is showing extremely weak technicals, which underlie the festering Greece debt fundamental problems. This is the first test of the 20-EMA after staying away for quite a long time, showing the bearish pressure. It also coincides with a breakout below the support of 1.92 and a pullback. On an unrelated note, it seems that my holiday here in Europe is getting cheaper and cheaper. I will be timing my exchange of SGD to EUR near the support levels.

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Spencer Li

S&P 500 – new highs after breaking out of inverted H&S | Technical Analysis | Stock Indices

gspc 031810

gspc 031810

After completing an inverted H&S, the S&P 500 has proceeded to make new highs. Judging by the numerous strong white bars, the upward pressure is quite strong. It might be a good idea to go long on a pullback, perhaps on a test of the breakout to new highs. On a side note, I will be heading to Budapest this weekend.

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Spencer Li

Dow Jones – familiar pattern could propel Dow to over 12,000 | Technical Analysis | Stock Indices

dow jones familiar pattern
A similar-looking pattern suggests a lot of upside, especially if it finds support at the W-pivot and both EMAs. Please ignore the volume, it’s not working right for this index. Based on the length of this pattern, we could be seeing upside moves of beyond 12,000. Be ready to start buying!

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