FTSE Dollar Rice Soy Interest rates Crude

Published: Sun, 05/22/16

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The Complete Technical Analysis
Dear ,

There is a lot more published on Indiacharts every week. Here are some of the posts from this week. You can get all our market updates with the Insiders. You get them every day and timely. There are some major turns in various markets happening right now and we published two Long/Short updates today to highlight them.

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Dollar INR Video

The USDINR broke out and has follow up buying today. The Dollar has turned up and may cause big final 5th wave rallies for many currency pairs including the USDINR at some degree. This Video explains the view across dollar pairs inh 8 mins.

http://screencast-o-matic.com/watch/cDhqhDiVZu


Crude

66% of wave C below is at 50$ and the wave b of C high is at 50.92$. Close to this I am looking for a possible top in the price of Crude. You will need to get a confirmation. But all the moves up are 3 waves so I have marked wave D as a-b-c-d-e. So as discussed some time back I am moving towards this wave count. It shows that a triangle ended at the 2014 high and the fall from there is 5 waves ending as an expanding triangle. The next wave down then would be wave E of the decline the final leg in 3 waves down towards toe lower line at 20$.

crude190516


Soy Meal [CBT]

In my last post on Soy Meal futures [CBT], I showed how we would bottom near the wave 4 low of the last rally. Soy spent 4 months below that level [shakeout of weak hands], and has now started a powerful rally. Wave 3 longer term started or wave 2 is developing a more complex pattern that time will tell. But close to that low the risk to a bullish opinion was low. Note that the previous bull run in Soy was 5 waves but overlapping. So it is a leading diagonal as shown by the orange trendlines.

soymeal190516


Are rates rising?

The US 10 year notes fell sharply but has not yet broken the wave (b) low. Because wave (c) up does not certainly appear 5 waves up, till the wave (b) low breaks we maybe forming a triangle and wave (e) of 2 up might still form before wave 3 starts. If that low breaks then yes wave 3 down has started and interest rates start rising.

tnotes190516


Rice and Spice

Prices of Risced too have started what looks like wave 3 up. Agro prices are rising irrespective of the dollar trend and are not moving with the rest of the commodity pack.

rice190516


Australia

Australian markets have retraced close to 61.8% [5500] even as momentum started to fall. The rise is 3 waves and in a channel and when the next wave down starts it should break the lower end of the channel and then test the FEB lows again.

australia190516


FTSE

FTSE - Wave iii down to 5850 next. The wave i low broke by a whisker but that is all that is needed sometimes.

ftse200516
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Rohit Srivastava
www.indiacharts.com
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