Recorded on the 6th August 2019, the Monday after China allowed to yuan to weaken in response to President Trump’s imposition of new trade tariffs Thursday last week, Joshua, a frequent fixture on the business media circuit, covers a broad range of ideas and charts.
Initially rattling through news and data, at the third minute he switches to his forte: charts and technical analysis. He kicks of with the FTSE 100, then Germany’s Dax, followed by the Dow Jones Industrial Average. Interesting to see he uses a 200 week simple moving average. I mean, that’s 1000 working days. Is this useful to IG’s retail clients? Later on, when covering FX, he’s very much more short term – even saying that cable has been ‘’rallying relatively heavily recently’’ – could have fooled me. One must watch out for his sense of time and perspective.
Fascinating to see the ratio of IG clients long versus short. A whopping 78 per cent keen on the Australian dollar – one of this week’s worst performers along with the New Zealand dollar. Brent crude shows a whopping 82 per cent long! Straits of Hormuz, I’m guessing, but fodder for a contrarian like me. Also interesting is how he pinpoints chart levels that are important to swing traders.
Finally, make a note that they offer a News an Analysis section at the bottom left of their web site on the IG platform. I think this might be a good addition to the news feeds you might be following.
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