Commodities resume their bearish trend – Sept 10th 2014

Commodity index DBC continues in a decline as expected. There isn’t important support level till the 22USD. No time to buy commodities. It is possible to find some weak commodity and short sell it. Energy commodities are weak so tickers like BNO, USO, DBE are examples of possible short sell picks.

20140910_DBC_chart_analysis_from_simple-stock-trading-com

 

 

 

 

 

 

 

Bank sector does not look good

KBE, the ETF representing banking sector, paints bearish chart pattern – head and shoulders on its weekly chart. This ETF broke also below the 200-day moving average recently and it is an additional negative signal.

These signals could indicate a bearish turn in the broad market. This ETF is a bearish opportunity for the coming days.

20140720_KBE_chart_analysis_from_simple-stock-trading-com

Indonesia ETF breaks down – a trade setup

Indonesia ETF, IDX, shows signs of weakness. It has pulled back from resistance area and now looks like it wants to go down.

I like this chart for bearish swing or position trade .

20140613_IDX_ETF_swing_trade_opportunity_from_simple_stock_trading_com

 

This is also supported by my Global Macro story based on weakness of several emerging markets. EM is not united group anymore. Indonesia and others (like Brazil ) have their economic weak points and so are vulnerable to a decline.

I plan to enter short sell below yesterdays low with a stop above 25.50. Possible target is in 22 USD area.