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$LPI long (B wave potential here)LPI has experienced an impulsive 25% drop after Chile announces that it will nationalise its country's lithium supply. Private companies will be forced to work with the state to develop the local industry. I have not looked in depth into Chile's lithium industry and the potential long term consequences but the market demonstrated how it felt about the announcement. SQM fell 17% and Albemarle fell 9% (both in the top 5 largest lithium companies in the world). It is no surprise th From a charting perspective, this looks like a clear running flat but could also become an expanding flat down the track. The impulsive C wave down could also be interpreted as the end of a new A- wave. This could mean that there B wave potential here for a swing.
LLong
by Itachi239
ASX to find support at recent swing low?ASX200 - 24h expiry - We look to Buy at 7316 (stop at 7266) Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. A lower correction is expected. Short term bias has turned positive. We look to buy dips. Further upside is expected although we prefer to buy into dips close to the 7310 level. Our profit targets will be 7436 and 7466 Resistance: 7435 / 7600 / 7815 Support: 7305 / 7215 / 7120 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:AU200AUDLong
by OANDA
QPM LONG (ASX)QPM's debt financing is making progress. An important milestone was reached with a German supplier collaboration agreement as well as German Funding support. German companies Plinke GmbH and Andritz Separation GmbH & Siemens LTD have agreed with supplying a significant proportion of capital equipment required for the TECH PROJECT. Germany's Export Credit agency provided a tied loan guarantee of 500 million and Kfw IPEX confirmed an interest in providing 250 million. QPM currently has A$1.4 billion in conditional debt funding. Investors await the potential debt commitments of K-Sure and other commercial banks. Investors also await an equity component here. QPM has done exceptionally well despite the economic climate but it is important to be objective as their 2.1b capex total remains a significant hurdle. A high level of risk is still involved here (despiting Stephen Grocott and his team continually derisking this project!). I have personally reduced my holdings out of concern of current macro conditions. From a charting perspective, QPM has been in a deep downtrend since October 2022. QPM has experienced reprieve after the german supplier collaboration on the 4th of April. Without it, the ticker was in the doldrums experiencing a death cross on 7th December 2022. Any impulsive movement above the top trendline (15c to 17c) alongside a corrective flat in that range will constitute a buy signal. Any movement like this would probably coincide with further debt financing progress. Can Stephen Grocott and his team bring this home?
ASX:QPMLong
by Itachi239
2
ASX to find support at previous swing high?ASX200 - 24h expiry - We look to Buy at 7270 (stop at 7220) Previous resistance level of 7272 broken. Our short term bias remains positive. We are trading at overbought extremes. A lower correction is expected. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher. Our profit targets will be 7390 and 7420 Resistance: 7435 / 7600 / 7815 Support: 7305 / 7215 / 7120 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:AU200AUDLong
by OANDA
PLS Long (ASX)The C wave from March 2023 demonstrates bearish movement from falling lithium spot prices and a bearish macro environment. The C wave movement has turned this from a running flat to an expanding flat . Interesting to watch market psychology is at play here as participants sold PLS down despite a 1.2 billion in profit and a maiden 11c dividend paid out. Prices reached as low as $3.5 during this period. This could either be a completed expanding flat or the C wave in this flat could actually be the beginning of a new A wave. As demonstrated by the 2016 to 2020 corrective flat, prolonged consolidation lead to a 35 bag movement. Regardless of whether it's the beginning of a new A wave or the end of an expanding flat, consolidation is healthy. Expect short term upside too. PLS long for the next decade. ** Note: During the end of March 2023, Albermarle attempted to acquire LTR. The big players are accumulating despite bearish sentiment.
ASX:PLSLong
by Itachi239
ASX to see a limited rally?ASX200 - 24h expiry - We look to Sell at 7160 (stop at 7210) We are trading at overbought extremes. This is negative for sentiment and the downtrend has potential to return. The hourly chart technicals suggests further upside before the downtrend returns. The 200 day moving average should provide resistance at 7175. Preferred trade is to sell into rallies. Our profit targets will be 7020 and 6980 Resistance: 7145 / 7320 / 7600 Support: 7000 / 6860 / 6660 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:AU200AUDShort
by OANDA
ASX crucial support continues to hold back bears.ASX200 - 24h expiry - We look to Buy at 6910 (stop at 6860) We are trading at overbought extremes. A lower correction is expected. Short term bias is mildly bullish. The trend of higher lows is located at 6881. Preferred trade is to buy on dips. Although the anticipated move higher is corrective, it does offer ample risk/reward today. Our profit targets will be 7050 and 7145 Resistance: 7145 / 7320 / 7600 Support: 6860 / 6660 / 6405 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:AU200AUDLong
by OANDA
1
CXO LONG (ASX)Moved from a running flat to an expanding flat . Spot lithium prices have fallen 34% in the month of March, highlighting a slowdown in demand caused by contractionary monetary policy. The spillover effect onto major banks indicate a stronger possibility of further downside which may lead to a recession during summer (US). Downside is clearly linked with a number of macro factors including Fed induced banking crisis (SVB) and dropping lithium spot prices. Lithium stocks have dropped significantly in March 23 so will be expecting more corrective movement for now. The world is moving towards electrification and CXO is now a producer. My forecast is that CXO will exceed $2 in 12-18 months .
ASX:CXOLong
by Itachi239
1
$TIE Looking for a push above monthly open and acceptance. "Range low" has to hold for this trade to work out. Consolidation above monthly open is bullish signal for me to trade into Blue Box as target 1 and onto 2 Worry about target 2 if we hold the first Blue box. Yellow highlighter indicates liquidity and stops that have now been wiped out. Recent news catalyst "TIETTO MINERALS ( $TIE $TIE.ax ) has released " Tietto Ramps Up to Full Production at Abujar Gold Mine " on 20/3/2023 at 9:55 am AEST #Tech #Metals #Drilling"
T
by gillman_hugh
EUR/NZD Fundamental + Technical Macroeconomic Update | 3.14.23The Euro continued its upward momentum, trading above $1.07 and approaching its highest level since February 14th. This is in contrast to the two-month low of $1.05 it reached on March 8th, which was due to concerns about the US financial system following the collapse of SVB. Despite US authorities' efforts to limit the damage, investors are concerned that the Federal Reserve may adopt a more cautious approach and only deliver a 25 basis point hike at the March meeting, instead of the previously expected 50 basis point hike. This is because of the potential risk to global growth caused by the turmoil in the US banking sector. Investors are also awaiting the European Central Bank's policy statement on Thursday. Although the bank is expected to raise interest rates by another 50 basis points, there are concerns that it may adopt a more dovish tone due to ongoing risks to financial stability. The S&P/ASX 200 Index rebounded from over two-month lows, rising 0.8% to above 7,060 on Wednesday. The gains were led by technology and banking stocks, following a similar trend on Wall Street, as investors felt that the worst of the fallout from the collapse of Silicon Valley Bank and Signature Bank had passed. The US inflation report, which came in line with expectations, also calmed the market’s nerves, and investors are now betting on a smaller interest rate hike by the Federal Reserve next week. Although Australian consumer sentiment remained at historic lows in March due to concerns about inflation, interest rates, and the broader economy, business sentiment dropped to a three-month low in February. The Hang Seng Index soared by 346 points or 1.8% to 19,594 on Wednesday, recovering from a 2.3% plunge the day before. This plunge had seen the index hit its lowest in more than three months. Investors are optimistic that China's economic activity will strengthen after official data showed that industrial output, retail sales, and fixed-asset investment all grew during the first two months of the year. The People's Bank of China added more liquidity than expected while holding a key lending rate, adding to the positive sentiment. WTI crude futures rose above $72 per barrel, rebounding from three-month lows, as OPEC raised its forecast for Chinese oil demand growth in 2023. This is in light of the country’s exit from the zero-Covid policy. However, OPEC left its outlook for global demand unchanged, citing potential downside risks for global growth. The group said that it would stick to production cuts agreed in October until the end of the year, according to Saudi Arabia energy minister Prince Abdulaziz bin Salman. The US oil benchmark, however, remains down more than 5% this week due to the turmoil in the US banking sector, and the prospect of another interest rate hike from the Federal Reserve next week continues to weigh on sentiment. Investors are now looking ahead to the IEA’s monthly report and official data on US crude inventories on Wednesday. Soybean prices eased below $15 per bushel, moving further away from a seven-month high of $15.55 hit on February 13th. This is because of the expectation that supply will remain strong, boosted by large crops in Brazil. The country's soybean production is estimated to reach a historical 153 million metric tons (MMT) in 2022/23, unchanged from last month, and higher by 24 mmt (18 percent) from last season’s drought-affected crop. Meanwhile, concerns over Argentina's supplies will continue, as the country's soybean harvest forecasts have been cut several times over the past months after the South American nation fell into the grip of its worst drought in over 60 years. The USDA has slashed its projection for Argentine production to 33 million tons, down 20% from its February estimate and marking the smallest crop since 2009. Crush is also expected to hit the lowest level in over a decade. The Hang Seng soared 346 points or 1.8% to 19,594 around midday on Wednesday, mostly recovering from a plunge of 2.3% the day before that saw the index hit its lowest in more than 3-months, amid signs that China's economic activity strengthened during the first two months of the year, with official data showing that industrial output, retail sales, and fixed-asset investment all grew. Meantime, the PBoC today added more liquidity than expected while holding a key lending rate unchanged and stepping up financing support for private small firms. An upbeat session on Wall Street overnight also boosted sentiment, with traders trying to shake off bank woes in the US, while speculation grew that the Federal Reserve may go for a smaller rate hike when it meets next week. All sectors supported the upturn, with financials, tech, and consumers all gaining over 1%. Innovent Biologics climbed 9.8%, followed by Giant Biogene Hlds. (9.3%), Orient Express Intl. (8.4%), and Longfor Group (4.2%).
Long
by TayFx
ASX to stall at current swing high?ASX200 - 24h expiry - We look to Sell at 7373 (stop at 7409) Buying pressure from 7264 resulted in prices rejecting the dip. The current move higher is expected to continue. The bias is still for lower levels and we look for any gains to be limited. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower. Further downside is expected although we prefer to sell into rallies close to the 7380 level. Our profit targets will be 7283 and 7263 Resistance: 7320 / 7600 / 7870 Support: 7145 / 7000 / 6860 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:AU200AUDShort
by OANDA
ASX continues to move lower.ASX200 - 24h expiry - We look to Sell at 7221 (stop at 7245) We are trading at overbought extremes. A Doji style candle has been posted from the high. This is negative for sentiment and the downtrend has potential to return. The hourly chart technicals suggests further upside before the downtrend returns. Further downside is expected although we prefer to sell into rallies close to the 7221 level. Our profit targets will be 7155 and 7000 Resistance: 7320 / 7600 / 7870 Support: 7145 / 7000 / 6860 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:AU200AUDShort
by OANDA
ASX 200 close to a swing low?The ASX 200 had a great start to the year, but has since seen prices pull back from tis YTD highs. Yet is we zoom out, the daily trend remains bullish overall, and prices during the recent decline appear to be corrective. It's pullback has also found support around a cluster of support levels including the 38.2% Fibonacci retracement, 50-dy EMA, monthly pivot point and 7300 round number. And as RSI recently reached oversold and has since formed a bullish divergence with price, we see the potential for a rally towards 7500. As US traders are set to return to their desks after the 3-day weekend, there is a reasonable chance of an 'up day' which could spill over to a positive start for the ASX tomorrow. Therefore, we're happy to enter the ASX long ahead of the close with a stop beneath this week's low, and initially target 7500.
ASX:XJOLong
by CityIndex