Forex daily technical analysis report (march 28, 2014)

Please do not print this report unless it is absolutely necessary. Save a tree. Date: 28/03/2014

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Daily Technical Analysis Report


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GOLD ST Trend Down

Obj: 1284.00- TRP: 1353.00

DECEMBER FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 1316.20 1320.60 1330.00+/-

SUPPORTS 1284.00- 1273.00- 1265.20*

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

sustained press under 1300- should help propel sell offs. Any corrections should try to setup

a bear flag and stay under 1320-. A reluctance to climb over 1320 will encourage sell offs. A

close over 133110* is needed for a near term flip up with retracements back to 135300*.

SILVER ST Trend Down

Obj: 19.520 TRP: 20.950


RESISTANCES 20.055 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

congestion up around 2030-2058. Closes over 2061 and 2095* are needed to signal a bullish

turn.

COPPER ST Trend Sdwys /Down

Obj: 2.7100 TRP: 3.0885


RESISTANCES 3.0300+/- 3.0885* -

SUPPORTS 2.9690 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 sell offs. A close under 28770 is needed to add to

Commodities | Precious - Metals


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washouts to 271. Another push over 303 would suggest friendly corrective forces are gaining

control and will lift trade to test at 30885* resistance for a bottoming turn.


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CRUDE OIL ST Trend Sdwys/Down

Obj: 101.62 TRP: 98.79

JANUARY FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 101.62*+/- 102.18 103.60+

SUPPORTS 100.56 100.00 98.79*

Comment: The market has climbed up against 10162* resistance, challenging for a larger

advance. A close over 10162* projects rallies to push into the early March swing high.

However, be careful for stalled action around 10162* that could drive trade back into

corrections along 100-. A close under 9879* is needed for a reversing turn to lower levels.

NATURAL GAS ST Trend Sdwys

Obj: 4.641 TRP: 43.76


RESISTANCES 4.607 4.650 4.700

SUPPORTS 4.488 4.440 4.376*

Comment: Yesterday’s thrust higher triggered a short term reversing upturn and calls for

follow through rallies into the 4607-4650 area. We may see minor consolidation of gains in the

upper half of yesterday’s run, but tight congestion will quickly form a staging level for rallies.

Only a close under 4376* rekindles bear trend forces.

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MINI S&P ST Trend Up

Obj: 1821.00 TRP: 1860.50


RESISTANCES 1848.50 1853.50 1860.50*

SUPPORTS 1835.25 1826.00 1821.00*

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

/ failed secondary rallies of recent weeks caution for a reactionary sell off. A close under

1821* should be respected for a larger topping downturn that could wash trade below 1800-.

A close back over 186050* is needed to rekindle bull trend forces.

MINI DOW ST Trend Up

Obj: None TRP: 16094


RESISTANCES 16275 16370+ -

SUPPORTS 16137 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. Wednesday’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: 3669.00


RESISTANCES 3588.00 3604.00 3669.00*

SUPPORTS 3547.00 3531.00 3488.00-

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

possibly lower. Trade is positioned to again extend sell offs today. Any minor corrections

T Bonds | INDICES


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should struggle to get over 360000+ and sideways action will bear flag. Only a close over

366900* rekindles bull trend forces.


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SOYBEANS ST Trend Sdwys/Up

Obj: None TRP: 1401.50


RESISTANCES 1444.00 1450.00 1460.00

SUPPORTS 1421.00 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 475.00 482.00+ -

SUPPORTS 465.40 459.80*- 447.80*

Comment: The market is bullish with yesterday’s breakout over 47150 signaling for a drive

beyond 482+. Another back off from 470+ may trigger defensive consolidation days in the

470-460 zone. Mostly sideways action over 45980* will allow trade to bull flag. A close under

45980* marks a turn back against 44780*.

SOYBEAN OIL ST Trend Sdwys/Up

Obj: 40.16 TRP: 42.27


RESISTANCES 40.84 41.31 41.59

SUPPORTS 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 recent down sloping

congestion will likely stop under 4131 to keep a bear flag setup. A push over 4131 could spark

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rebounds. Only a close over 4227* marks a turn into sustained corrections. Watch for a bounce

off 4016* on the first test.


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WHEAT ST Trend Down


MARCH FUTURE LEVEL1 LEVEL2 LEVEL3

RESISTANCES 714.00 716.00 723.00

SUPPORTS 702.00 700.00- 690.00*

Comment : The market is bullish and congestion over 690* support hints for secondary rallies.

A breakout over last week’s high creates potential for a blow off run over 750+. Trade may

ease and hang in sideways congestion along 700+/-. A close under 690* marks a reversal into

topping trade and likely sell off into the 670-660 levels.

CORN ST Trend Down



RESISTANCES 495*+.00 500.00 502.00

SUPPORTS 487.00 485.00 476.00

Comment: The market is in a bull trend, suggesting a preliminary upturn from recent

congestion and poised for rallies to attack 495* resistance. A breakout over 495* rekindles the

bull drive and breakout over the last spike high alerts for driving rallies beyond 515+. Trade

may back off from 495* and resume sideways congestion, but a press under 476 is needed to

start a reversal turnover. A close under 472* is bearish.


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SUGAR ST Trend Down

Obj: 18.10 TRP: 17.13


RESISTANCES 18.03 18.22 18.47

SUPPORTS 17.62 17.44 -

Comment: The surging rallies of the past couple days signals a bull turn and calls for a

secondary advance to attack the last swing high. Trade is poised for rallies. A breakout over

1847 could launch a sustained bull drive over 1900+. Be prepared for a minor pullback from

the 1803-1810 area that could lead into a few consolidation days. Any dips should fight to

hold just under 1750- to maintain bull forces from this week’s upturn.

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 sell off 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 sell offs to

Commodities | SOFTS


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test down along 2910-. A close under 2900 could open up a larger selling wave. Any corrections

will likely remain trapped to sideways congestion under last Thursday’s gap. A close over 2993*

is needed to rekindle bull trend forces.


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COTTON ST Trend Down

Obj: 89.64 TRP: 94.86


RESISTANCES 93.44+ 94.86* 97.35

SUPPORTS 91.25 90.00 89.64*

Comment: The reversal with Wednesday’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 sell offs to 8600-. Suspect a fight to bounce off

9000-8964* on the first test to lift trade into ideways consolidation for several days. A close over

9486* is needed to rekindle bull trend forces.


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EURO ST Trend Sdwys/Down

Obj: 1.3666 TRP: 1.3875


RESISTANCES 1.3790 1.3814 1.3875*

SUPPORTS 1.3705 1.3704 1.3666*

Comment : Last week’s break still signals a bear turnover and potential for sell offs to 13666*.

Sustained action under the recent 13747 lows will promote follow through sell offs. Any

corrections that stall around 13800+/- should stay aligned for sell offs. A close over 13875* is

needed for a reversing turn back to higher levels.

B POUND ST Trend Sdwys/Up

Obj: 1.6440 TRP: 1.6672


RESISTANCES 1.6633 1.6672* -

SUPPORTS 1.6525* 1.6440 -

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

it will take a roll back under 16525* to rekindle bear trending action. A drop 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 0.9831 0.9893 0.9920

SUPPORTS 0.9760 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

Forex | CURRENCIES


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close over 9893+ is needed to project a drive over 100+.


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AUSSIE$ ST Trend Down

Obj: 0.9362 TRP: 0.8979


RESISTANCES 0.9224 0.9280 0.9362+

SUPPORTS 0.9141 0.9075- 0.8979*

Comment: The market shows a bottoming upturn, signaling for a potential 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

8979* marks a reversing turnover.

CANADIAN$ ST Trend Sdwys/Down



RESISTANCES 0.9069 0.9111 -

SUPPORTS 0.9009 0.8980 0.8928*

Comment: The climbing moves over the past week signal a short term upturn. A breakout

surge over 9069 suggests a drive to 9150-9200. Trade is poised for rallies, but be prepared for

a minor slip to sideways congestion along 9000 as trade consolidates gains. Tight congestion

days should bull flag. Only a close under 8928* rekindles bear trend forces.

SWISS FRANC ST Trend Sdwys



RESISTANCES 1.1360 1.1367 1.1418*

SUPPORTS 1.1275 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


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Forex daily technical analysis report (march 28, 2014)

Economy & Finance

gold st trend

silver st trend

bear trend forces

bull trend forces

copper st trend sdwys

mini sp st trend

mini dow st trend

mini nasdaq st trend