Thursday, March 27, 2014

Maximum number of consecutive down days on MCX Silver ever

I follow commodities a bit. And on seeing the recent chart of MCX Silver was curious to see so many consecutive down days. This is how the MCX Silver chart looks like for 2014.




So I went and had a look at the data to do a simple analysis of when in the past have he had as many consecutive down days in silver. That data is represented in the graph below –



This graphs has history since the beginning of trading on the contract from 2004. The current number of consecutive down days is the maximum we’ve ever had for Silver. MCX Silver should see a bounce in next few days, if not, at least some sideways action.

Monday, March 17, 2014


Since we are on the topic of CNY, have a look at CNYINR 3 year chart below.. INR has depreciated by nearly 50% against the yuan. From 6.8 ish levels to 10.


CNY trading band widened

Most imp news to come out of China in some time…  This is another step on the path to proper internationalization of their currency. Apparently on 28th of Feb CNY depreciated the most in the past 6 yrs, and it was central bank intervening to stop the market from assuming that it’s a one way street and CNY will only appreciate. That was a precursor to this step of widening the band.


A 1 year chart of USDCNY below


Friday, March 14, 2014

This is how Flag breakout pattern looks like

Have you seen a cleaner flag breakout pattern. Beautiful.