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MIG BANK / Forex Broker14, 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 Sell Stop 3 1.3480 1.3140/1.3000/1.2860 1.3650GBP/USD Await fresh signal.USD/JPY Await New Buy Trade Setup.USD/CHF Buy limit 3 0.9110 All three objectives at 0.9300 0.9050USD/CAD LONG 3 1.0250 1.0360/1.0480/1.0670 (Entered on 10/11/2011) 1.0050AUD/USD SHORT 2 1.0570 1.0010/0.9710 (Entered 01/11/2011) 1.0470GBP/JPY LONG 3 122.70 124.10/126.00/127.32 (Entered on 14/11/11) 121.30EUR/JPY Look to see how 104.00 fares.EUR/GBP SHORT 3 0.8555 0.8455/0.8285/0.8068 (Entered 11/11/2011) 0.8655EUR/CHF Sell stop 3 1.2130 1.2030/1.1526/1.1002 1.2230GOLD Awaiting New Sell Trade Setup.SILVER SHORT 3 34.1300 29.9700/26.0700/23.3400 (Entered 01/11/2011) 35.6880
DISCLAIMER &DISCLOSURESPlease read the disclaimer and thedisclosures which can be found atthe end of this report
DAILY TECHNICAL REPORT15 November, 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 h it 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 s top 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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Resuming sharp reversal into 1.3140.
EUR/USD is resuming its sharp reversal from key overhead resistance
(primarily an important 2 year trend-line).
The bearish move is now being further anchored down by heightened
European soverign debt risk after Italian Govt. yields launched above 7%.
The recent break under 1.3653 (18th Oct low) unlocks further downside
scope into 1.3146 (Oct swing low) and psychological level at 1.3000.
Further pressure is also weighing from broad risk-related proxies. The euro
currently shares a high correlation of 0.85% with the S&P500 which is now
falling sharply from its recent multi-week highs.
Inversely, the USD Index has turned back higher above its long-term 200-
day MA. The bulls are likely to recapture the recent 9-month highs near 80.
Speculative (net long) liquidity flows are holding steady around their recent
spike highs (3 standard deviations from the yearly average). This will likely
remain strong and 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
Sell stop 3: 1.3480, Objs:1.3140/1.3000/1.2860, Stop: 1.3650
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, weekly chart and COT Liquidity, Bloomberg Finance LP
200-DMA(1.4104)
BERMUDATRIANGLE FAILED
BREAKOUTS
UPTREND(2 YEARS)
EUR/USD (Daily)
BREAKOUTZONE
(1.4000)
SHARP REVERSALAT KEY RESISTANCE
TARGETS 1.3000 & 1.2870
+
-
USD INDEX(4 YEARS)
DEMARKBUY SIGNAL
+27% +19%
TRIGGER(15000)
COT LIQUIDITY
+10%SO FAR
3 STD ABOVEONE YEARAVERAGE
EXTREME NETUS $ SHORTPOSITIONS
KEY SUPPORT(73.50-73.00)9
13
USD INDEX
200-DMA(75.72)
DEMARKBUY SIGNALS
BREAKOUT ZONE
EUR 57.6%, JPY 13.6%, GBP 11.9%CAD 9.1%, SEK 4.2%, CHF 3.6%
6 MONTHHIGH
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.pdf8/3/2019 2011 11 15 Migbank Daily Technical Analysis Report
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Break back over 1.6127 fails to materialise.
Long exited.
GBP/USD continues to be in a choppy corrective phase off the recent
1.6167 high. The swift move higher that took place last Friday led us toinitially believe that the corrective phase was over, with a return to 1.6200
then viable. However, provided that support can be found between 1.5840
and the current zone of trade, a further swing higher remains favoured.
This year has seen a generally range bound environment, with a return to
the highs of the annual range possible, near 1.6618/1.6747. Our bias
remains positive due to the near-term bullish structure that is in place.
While above 1.5632 further strength is favoured. However, if this region
fails to contain the current corrective phase, then the bias will turn negativeagain.
Sterling is expected to stay stronger then most, should the US Dollar enter
into a strengthening phase.
S-T TREND L-T TREND STRATEGY
Await fresh signal.
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
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Probability now favours retracement to pre-intervention levels.
USD/JPY is continuing to edge lower, with the growing probability of another
price retracement back to pre-intervention levels (PIR) and potentially even
a new post world war record low beneath 75.35 (PINL).
Furthermore, sentiment in the option markets continues to suggest that
USD/JPY buying pressure remains overcrowded as everyone in the market
continues to try and be the first to call the market bottom.
This may 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 into November-December this year, offering a sustained
move above our upside trigger level at 80.00/60, then 82.00 and 83.30.
Keep in mind that such a scenario would help reactivate the longer-term
technical bias, including prior monthly DeMark exhaustion signals, within
the ending diagonal pattern, launhcing a powerful recovery into 91.00.
Please select the link below to review our special coverage on USD/JPY.
Special Report: USDJPY Verging on a major 40 year cycle reversal
Webinar: USD/JPYs Long-Term Structural Change
S-T TREND L-T TREND STRATEGY
Awaiting Renewed Buy Trade Setup.
Ron William, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 426
USD/JPY
USD/JPY daily, weekly chart, Bloomberg Finance LP
83.30
USD/JPY(Daily1 YEAR)
QUAKE
SHOCK!
POST INTERVENTIONRETRACEMENT (PIR I)
POSTG7
MOVE (I)HIGH
82.00
PIR II
80.24
POSTBOJ
MOVE (II)HIGH
DEMARK BUY SIGNAL AHEADOF NEW POST WWII LOW (75.35)
POSTBOJ
MOVE (III)HIGH
MONTHLY DEMARKBUYSIGNAL
USD/JPY Weekly(2007 2011)
ENDINGDIAGONAL
PATTERNBREAKOUT
TARGET(85-79)
http://www.migbank.com/research/howard/USDJPY_Verging_on_a_Major_40_Year_Cycle_Reversal.pdfhttp://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-c95e01661d21mailto:[email protected]:[email protected]:[email protected]:[email protected]://www.fxstreet.com/webinars/sessions/session.aspx?id=d77a35a0-4a11-44fa-a883-c95e01661d21http://www.migbank.com/research/howard/USDJPY_Verging_on_a_Major_40_Year_Cycle_Reversal.pdf8/3/2019 2011 11 15 Migbank Daily Technical Analysis Report
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Break over 0.9151 suggests scope for a return to 0.9316.
The strategy below will be negated by a return to 0.9300.
USD/CHF Continues to rise within the confines of an hourly channel. The
break over 0.9151 today now warns of a return to the channel resistance
and a re-test of the 0.9316 level.
A small retrace is now sought for the creation of a lower high and the
resumption of strength.
Back under 0.9060 is required to negate this short term bullish setup.
As Italian government bond yields have eased back below 7.00%, this takes
the pressure off the Swiss Franc as a safe haven, for now.
S-T TREND L-T TREND STRATEGY
Buy limit 3 at 0.9110, Objs: All three objs at 0.9300, Stop at 0.9050.
USD/CHF hourly chart, Bloomberg Finance LP
Bijoy Kar, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 424
USD/CHF
USD/CHF daily chart, Bloomberg Finance LP
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Bulls hold gains above psychological 1.0000 level.
USD/CADs short-term price activity remains positive, following the sharp
bullish reversal from the psychological 1.0000 level (prior trading range).
Positive momentum needs to push above 1.0264 and 1.0400 to rebuild the
potential major upside reversal higher above the old resistance level at
1.0673 (August high & Congestion zone).
A strong directional confirmation above here will open a much larger
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.
Only a sustained close beneath parity will unlock bearish setbacks into the
long-term 200-day MA at 0.9825 and 0.9726 (31st Aug low).
EUR/CAD is extending above its 200-day MA, within a large multi-month
trading range. Key resistance continues to hold at 1.4379 (June swing high),
which has for some time marked a strong distribution pattern.
CHF/CAD has broken through support nearby the 200-day MA at 1.1322,
following the dramatic price slide lower (triggered by the SNB intervention).
The cross-rate has now retraced more than half of its 2011 gains.
S-T TREND L-T TREND STRATEGY
Long 3: 1.0250, Objs:1.0360/1.0480/1.0670, Stop: 1.0050Ron William, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 454
USD/CAD
USD/CAD daily, weekly chart, Bloomberg Finance LP
EUR/CAD and CHF/CAD daily chart, Bloomberg Finance LP
USD/CAD (Weekly)
CONFIRMATIONABOVE 1.0680
OPENSLARGER
DEMARKBUY SIGNAL
USD/CAD (Daily)
August High(1.0673)
200-DMA(0.9823)
200-DMA(1.3841)
MAJOR RESISTANCE
50%(1.3570)
61.8%(1.3379)
EUR/CAD (Daily)
REVERSALPATTERN
CHF/CAD (Daily)
200-DMA1.1314
50%(1.1488)
61.8%(1.0893)
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Sharp setbacks weigh.
AUD/USDs sharp setbacks continue to weigh. The move was triggered
from key resistance at 1.0765 (01st Sept high) and is now holding beneath
the 200-day MA (1.0418).
A sustained move below here is likely to mount downside pressure on the
rates multi-year uptrend.
Elsewhere, the Aussie dollar remains stable against the New Zealand dollar.
The pair is still locked within its new bear cycle structure while it holds
beneath its 200-day MA. Key support can be found at 1.2320 and 1.2100.
The Aussie dollar has reversed gains against the Japanese yen and is now
trading back below the long-term 200-day MA which is currently at 82.98.
Near-term support continues to hold at 77.63 (18th Oct low). A break here
will resume downside scope into 76.70 and signal further unwinding of risk
appetite.
S-T TREND L-T TREND STRATEGY
SHORT 2: 1.0570, Obj: 1.0010/0.9710, Stop: 1.0470
AUD/USD
Ron William, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 454
AUD/USD daily, weekly chart, Bloomberg Finance LP
AUD/NZD and AUD/JPY daily chart, Bloomberg Finance LP
200-DMACAPSBEARMKT
AUD/NZD(Daily)
KEY SUPPORT1.2319 / 1.2100
200-DMA
(83.12)
13
38.2%(76.70)
61.8%
(68.47)
50%(72.58)
AUD/JPY(Daily)
DEMARKSELL SIGNAL
RESUMPTION OF
BREAKDOWNADDS TO
RISK AVERSION
AUD/USD(Weekly)
38.2%(0.9144)
50%(0.8546)
61.8%(0.7947)
3 YEARUPTRENDISUNDER
PRESSURE
STRUCTURALLEVEL
KEYZONE
AUD/USD(1 YEAR)
DEMARKSELLSIGNALS
200-DMA(1.0418)
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Trades close to the old 122.36/122.65 platform.
GBP/JPY has seen a re-test of the 122.38/65 platform over recent sessions.
This now potentially completes the corrective structure that has been
witnessed since 127.32, with support anticipated.
Now that the surge higher from the end of October has been unwound,
there is scope for a higher low to form, for a fresh swing to the upside. It is
this unwinding that we have been expecting ahead of any potential fresh
strength.
The current region lies close to the 50% retrace of the 116.84-127.32 rise,
also potentially offering some support.
Bigger picture a rise towards 129.00/130.00 is possible, given the daily
structure present since 116.84. A push back under 121.39 is needed tonegate this positive structure.
S-T TREND L-T TREND STRATEGY
Long 3 at 122.70, Objs: 124.10/126.00/127.32, Stop: 121.30
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
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Further weakness towards 104.00 anticipated.
EUR/JPY continues to edge lower, after testing old channel support as
resistance yesterday, in the hourly timeframe.
Short-term structure suggests further weakness is possible towards 104.00,where a degree of support is possible. In fact the 104.00 region is key to
maintaining the rising trend seen since 100.76. If this cannot be maintained
then a return to 100.76 will become more likely.
Back over 106.74 is required to neutralise the outlook in the short-term.
A sustained hold over the 200 day moving average will turn the outlook
bullish.
We will monitor the price action close to 104.00 to try and determine if a
short-term buying opportunity will present itself.
S-T TREND L-T TREND STRATEGY
Look to see how the 104.00 region fares.
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
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Hourly channel contains rate for now.
EUR/GBP managed to find a footing back over daily trend-line support
yesterday, although this short-term strength was followed by a return to the
old trend-line support. Yesterdays failure to remain over old trend-line
support now favours a return to weakness. Such a move will be assisted by
the perception of Sterling as a safe haven, assuming the yields of 10 year
Italian and Spanish government bonds can stay above 6.00%.
Also noted is a possible channel in the hourly timeframe, with scope now for
a return to the support of this channel, currently near 0.8450. In the near-
term, a break back over 0.8652 is required to neutralise the outlook once
again. In the meantime, a lower high is sought for a further extension lower.
Failure to hold under the old double bottom and trend-line will warn of a
false break lower, with a danger that trade returns back into the old range.
In the meantime, scope is seen for a near-term return to 0.8486 and then
lower.
S-T TREND L-T TREND STRATEGY
Short 3 at 0.8555, Objs: 0.8455/0.8285/0.8068, Stop: 0.8655
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
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Approaches the 1.2500 region once again.
EUR/CHF continues to edge higher back towards the 1.2500 region. It is
anticipated that this zone may see a degree of resistance, particularly in
light of the movement in periphery yield spreads versus bunds. Over time,
this may lead to a renewed desire for a safe haven, with downside pressure
returning to EUR/CHF.
We would prefer to trade this from a momentum perspective, awaiting a
return to the 1.2000 region. Should a re-test of the 1.2000 region take place
with a fall under 1.1973 also following, this would warn of the end of the
recovery seen since 1.0075, increasing the probability of a return to this
level.
It remains to be seen if the SNB will be able to hold back the possible flow of
funds into Swiss Francs, that may occur, if further stresses lead to yet
higher yields in Italian government bonds.
S-T TREND L-T TREND
Sell stop 3 at 1.2130, Objs: 1.2030/1.1526/1.1002, Stop: 1.2230.
EUR/CHF weekly chart, 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
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Positive for the short-term.
Gold remains fragile after its dramatic 20% price fall, which helped confirm
the extreme overbought conditions (marked by DeMark indicators). This
also timed a key cycle peak, ahead of that all-important $2000 glass-ceiling.
However, short-term price activity is building constructively higher around
key level at 1760. A sustained move above here would open moves into
1844.
Speculative (net long) flows remain a concern having recently breached a
key downside level which may threaten over 2 years of sizeable long gold
positions.
There is heightened risk of a much larger decline if we confirm a weekly
close beneath $1600 and $1554-30 (200-day MA/swing low), which has not
been breached in 3 years!
A number of bargain hunting trend-followers will be watching this
benchmark line in the sand for repeat support or a potential big squeeze
lower into $1300 and perhaps even $1040-1000. Remember, this would still
offer a unique buying opportunity in the near future.
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
Awaiting New Sell Trade Setup.
GOLD
Gold weekly, daily chart and COT Liquidity, Bloomberg Finance LP
Ron William, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 454
TRENDCHANNEL(12 YEARS)
I
RISK ZONE III
CONFIRMATION BELOW $1530UNLOCKS LARGER DECLINEINTO $1300 & $1040-1000
26%
34%
20%SO FAR
25%
II
COT NET LONGSPECULATORPOSITIONS
OVER 2 YEARS OFSIZEABLE LONG
GOLD POSITIONSUNDER THREAT
IF KEY LEVEL BREAKS
200-DMANOT BROKENIN 3 YEARS!
DEMARK SIGNALWARNED OF GOLDSOVERBOUGHTCONDITIONS
BREAKOUT
$1704
$1600
DOWNSIDE: $1600 / $1530 UPSIDE: $1760 / $1844
GOLD KEY TRIGGER LEVELS
$1532
DOUBLETOP
$1760
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).pdf8/3/2019 2011 11 15 Migbank Daily Technical Analysis Report
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Key support at $26.0700.
Silver has developed a short-term recovery from its previous swing low at
26.0700. However, 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 which has now accelerated
higher by 67%, suggesting further risk aversion over the next few weeks.
S-T TREND L-T TREND STRATEGY
SHORT 3: 34.1300, Obj: 29.9700/26.0700/23.3400, Stop: 35.6880
SILVER
Spot Silver daily, weekly chart and Gold/Silver mint ratio, Bloomberg Finance LP
Ron William, Technical Strategist, E-mail:[email protected], Phone: +41 32 7228 454
BULLMARKET
FROM1999
Silver Monthly (since 1980)
13
38.2%(32.3135)
50%(26.9150)
61.8%
(21.5165)
I
II
OVER 30YEAR BASE PATTERN
Silver HITS 1980 Spike High! DEMARKSELL SIGNAL
13 YEAR LEVEL
UNWINDING 67%FROMOVERSOLD TERRITORY
Gold/Silver "Mint" Ratio
KEYSUPPORT(26.0700)
DEMARKSELL SIGNALS
Silver (Daily)
200 DMA(36.5125)
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DAILY TECHNICAL REPORT15 November, 2011
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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 bemoved 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
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LEGALTERMS
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DAILY TECHNICAL REPORT15 November, 2011
www.migbank.comRon WilliamTechnical [email protected]
14, rte des Gouttes dOrCH-2008 NeuchtelTel.+41 32 722 81 00
Bjioy KarTechnical [email protected]
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