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Technical Analysis: S&P GSCI All Metals Capped COMMODITY : exit out of a consolidation

PIOMBO

The S&P GSCI All Metals Capped COMMODITY index follows a significant bullish dynamic materialized by the formation of troughs and peaks which are higher and higher. A violent bearish correction  ...


Day By Day – Indipendent Research


nonetheless led the prices towards the support at 344.70 points, but does not reverse this dynamic. So we are bullish in the medium-term. …

18072011 1


Close price 371.14

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 384,1 / 406,3 pts
Supports 361,8 / 344,7 pts


Anticipation :

Anticipation :  Following the registration of a peak at 384.10 points, prices strongly pulled back, breaking the ascending trend line, guiding prices since July 2010. The support at 344.70 points, reinforced by the 200-day moving average and the 50% retracement, has stabilized the index. A first recovery attempt failed at the 361.80 point level but was subsequently overflowed. The recent pull-back towards this threshold allows one to anticipate a return of the index towards its current peaks.
We are short-term positive and envision a rallying towards the resistance at 384.10 points (the previous peaks).  We set the invalidation threshold of this positive scenario below the 361.80 support. 
Traker’s Name Leverage Expense ratio
AMUNDI ETF COMMODITIES SP GSCI METALS x1 0,3%
RBS Market Access RICI Metals Index ETF x1 0,6%
x1
x1
x1
x1

Follow-up Analysys: Our DBD Tracker dated 01/07/2011 recommended the purchase of the European STOXX 600 Basic Resources index. Since then, our intermediate target of 583.60 points was reached, a performance of 2.4%.  


* A leverage of 1 means that the ETF/Tracker has the same performance as the underlying index. A leverage of 2 indicates that the ETF/Tracker will have twice the performance of the underlying index. A leverage of -1 indicates that the ETF/Tracker will perform opposite that of the index: it will rise while the index falls, and vice versa.

 


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Source: ETFWorld – Day By Day – Indipendent Research

 

 

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