Thomas Schroeder News
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The Shanghai Composite Index’s bull- market rally has driven the gauge into a so-called golden cross, a chart pattern that has historically preceded gains in the subsequent month.
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Crude oil, trading near the highest levels in two years, is likely to “break out” toward $94 a barrel if prices hold above $87 support, according to Chart Partners Group Ltd.
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The Shanghai Composite Index will likely fall to 1,700, a 15 percent drop from yesterday’s close, after the benchmark index broke through a triangular consolidation trading pattern, according to Chart Partners.
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Future rally attempts for the Shanghai Composite Index may falter after the benchmark gauge dropped below 3,000 last month, according to Chart Partners Group Ltd.
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China’s stocks climbed the most in three weeks, with the Shanghai Composite Index rebounding from a drop below the 2,000 level, on speculation the government will lower reserve-ratio requirements to boost investor confidence.
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China’s stock rally may falter as the Shanghai Composite Index faces “risk” at the 3,000-level, according to Chart Partners Group Ltd.
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The Standard & Poor’s 500 Index may slump about 5 percent in an “overdue” decline that could hit emerging-market stock benchmarks even harder, according to technical analysis by Chart Partners Group Ltd.
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Asian stocks may extend their longest rally in more than a year after regional indexes broke out of so-called triangle congestion patterns, according to Chart Partners Group Ltd.
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China’s stocks fell the most in a week on speculation the government will increase interest rates this weekend, boosting concern tightening measures will slow corporate profit growth.
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Oil traded close to a two-year high as cold weather boosts demand for heating fuels in Europe and North America and amid speculation the U.S. economic recovery will accelerate next year, increasing oil consumption.
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