Global Technical Perspective (10-Sept-13-Edel)

Technical Research - Global Technical Perspective (10-Sept-13-Edel)

We are pleased to send you this week's issue of Global Technical Perspective.

We hope you find this information useful. As always we welcome your thoughts, questions and feedback.

•  Nifty (futs) – swift rebound rally to 5808 / 5823 (50 week SMA); further upside risk remains

•  Bank Nifty (futs) – retracement rally to continue; targets of 10,190 and 10,700

•  S&P 500 – up trend pivoted by 21 WEMA; breakdown risk recede

•  MSCI Asia ex-Japan – momentum buy to drive index higher in the short-term

•  DAX – 21 WEMA keeps up trend intact; momentum turns neutral

•  US 10-year yield – rally likely to stall around 3.0%; momentum overheated

•  DXY – likely to trade in a range of 81-82.50

•  USDINR – finally some relief after early scare; look for test of support at 62.60

•  Brent Crude Oil – wobbly after breakout ; bearish below $111

•  Gold – sideways price action likely in the short-term ; rebound rally to fail below $1354

Regards,

��

-->