Technical Analysis News
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It’s been a challenging year for emerging markets. The hugely popular Vanguard FTSE Emerging Markets ETF (VWO) is down about 1 percent so far in 2013; the iShares MSCI Emerging Markets Index (EEM) has fallen 2.1 percent. Bucking the trend is the PowerShares DWA Emerging Markets Technical Leaders Portfolio (PIE). That ETF is up 14.6 percent during the same period. How is that possible?
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Natural gas futures have reversed a two-year downtrend over the past several weeks and may top $5 in the third quarter, according to a technical analysis by Piper Jaffray Cos.
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Cotton futures already headed for their biggest monthly drop since September will fall further to the lowest price since late January, according to technical analysis by Michael T. Sweeney at broker Marex Spectron.
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Hindalco Industries Ltd., India’s second-largest copper producer, is benefiting from the shortage in the market caused by the closing of its bigger rival’s smelter, said two people familiar with the situation.
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Gold futures may rebound to $1,500 an ounce in June after hitting a “double bottom” yesterday, according to technical analysis by R.J. O’Brien & Associates.
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The yen may decline to its weakest level against the dollar in more than four and a half years after breaking a key level of support, according to JPMorgan Chase & Co.
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Copper may rise almost 10 percent to as much as $8,000 a metric ton if it climbs above May’s high of $7,480, according to technical analysis by Marex Spectron Group.
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Gold futures in Mumbai are poised to extend declines to the lowest level since August 2011 as a falling trend channel signals further losses, according to a technical analysis by Motilal Oswal Commodity Broker Pvt.
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New World Resources Plc tumbled the most in almost two years after JPMorgan Chase & Co. said the loss-making Czech coal company may struggle to refinance debt.
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Copper is poised to drop 16 percent by end of September to the lowest level in three years as it completes an Elliott Wave correction, according to technical analysis by Shanghai Cifco Futures Co.
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