CRB-Index - Is sitting right at important support at 293. As can be seen above, this support/resistance has been significant for a number of years. I do think we eventually will see a break below support at 293 calling for a decline to at least 264, but more likely 248 as the next important supports. A break below 293 will spell more trouble for the com-currencies; AUD; BRL; CAD; NZD and ZAR.
Copper - Is Dr. Copper telling us something? We might be building a big S/H/S top where the Head itself was a smaller S/H/S top. We have broken below a minor support, which calls for a more significant test of the neckline near 305 and a break here will have long term bearish consequences for the financial markets and the Global economy in general.
S&P 500 - I thought we might have a quick look at the S&P 500 too. We are closing in on short term important support near 1,200. This support needs to hold firm to stages a break above 1,231 to maintain the possibility of a Santa-Rally.A break below 1,200 will also break the Bulls and call for a decline towards 1,158 as next short term support.
FTSE 100 - Here too a big S/H/S after a smaller S/H/S top forming the hear. Here important support is the neckline at 4,789 and a break below here will spell trouble for the UK. It is just a matter of time before we see the break below the neckline calling for a retest of the 2009 bottom.
Bovespa - The Brazilian index is also headed back towards the 2008 low. A break below 52,150 and more importantly 46,148 confirms the decline. Short term we have just broken below a minor support calling for a decline towards support at 52,150.
Sensex - The Indian stock index has just broken below important support at 15,000 calling for a continuation towards next support at 14,384, but a more likely target will be 12,799, where stronger support will be found. Longer term I do look for a decline back to the 2008 low here too.
FTSE 100 - Here too a big S/H/S after a smaller S/H/S top forming the hear. Here important support is the neckline at 4,789 and a break below here will spell trouble for the UK. It is just a matter of time before we see the break below the neckline calling for a retest of the 2009 bottom.
Bovespa - The Brazilian index is also headed back towards the 2008 low. A break below 52,150 and more importantly 46,148 confirms the decline. Short term we have just broken below a minor support calling for a decline towards support at 52,150.
Sensex - The Indian stock index has just broken below important support at 15,000 calling for a continuation towards next support at 14,384, but a more likely target will be 12,799, where stronger support will be found. Longer term I do look for a decline back to the 2008 low here too. 
Hello sir
ReplyDeletewhat happen sir, crude oil analysis....I think currently running WAVE 3 of 4th wave.Its correct or wrong sir......
Hi Swami,
ReplyDeleteI do think we are in wave three down, but as we only are in the very early starges of this wave three, we must allow for slight bigger correction than will be seen later in wave three.
Short term allow for a move into the 96 area, before the next serious decline sets in.
Kind regards
EWS