STA Blog

Charting the Markets with IG TV: Patricia Elbaz MSTA on the main markets

Never the shrinking violet, STA member and technical analyst at Financial Trends, Patricia wades right in as cable sits perilously on what many believe to be key support at $1.2600. Using the phrase ‘base-building’, and interestingly a 52-week moving average, she suggests that though sterling looks weak we might be in the process of attempting an interim low. The same thing is the case for spot gold, hinting that the phase of US dollar strength might be over.

She then turns to the euro against the greenback, pointing to and describing a doji candle (open and close at the same price). Trouble is, IG are one of the few data providers who quote and chart markets on a Sunday, thus explaining the tiny daily range. Like the Japanese yen against the US dollar, these are trading close to important psychological levels, where the yen’s value in a risk-off environment continues.

Moving on to commodities, with Brent crude she uses a 200-day moving average which has done a good job containing downside tests. Looking closely at the shape of each candle, she focuses on those with ‘not a full range below’ [the moving average]. These are the spike lows and the whiskers, or shadows, of the candles.

All round a balanced and cautious look at key markets where range-trading has dominated this year.

To watch, click here.

Posted in Finance, Markets, Technical Analysis, Technical Analysis Courses, Trading, Trending
Tags: , , , ,

The views and opinions expressed on the STA’s blog do not necessarily represent those of the Society of Technical Analysts (the “STA”), or of any officer, director or member of the STA. The STA makes no representations as to the accuracy, completeness, or reliability of any information on the blog or found by following any link on blog, and none of the STA, STA Administrative Services or any current or past executive board members are liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. None of the information on the STA’s blog constitutes investment advice.

Not ready to join? Stay Updated

If you want to learn more about membership and being part of the STA, sign up for our updates so we can keep in touch.


Monthly Meetings

The STA holds 11 monthly meetings in the City of London, including a summer and Christmas party where canapés and refreshments are served.


Latest Videos

As a service to our members, many of whom are unable to attend all our monthly meetings, we have been making videos of meeting presentations for several years.


STA Libraries

The STA has an extensive library of classic technical analysis texts. There are over 1000 books in the collection. It is held at the Barbican Library with a smaller...


Market Technician

Latest research and news

More Info

World Class Tutors

STA Course Lecturers

More Info


Be part of something special

More Info


View latest posts

More Info