Charting the Markets with IG TV: Patricia Elbaz goes to school

I think that Patricia Elbaz MSTA just might be IG TV host Jeremy Naylor’s teacher’s pet. In his own words: ‘’through an interesting summer…and a difficult time ahead, it’s back to school’’ – especially for Patricia who lectures at several UK higher educational institutions.

She kicks off with cable – which I must say, has been a bit more more interesting this week (because of or despite Boris) – and one that her clients abroad are especially confused about; I think we all are too. I like the way she measures basing activity, in stages, observing and re-gauging as necessary, saying that ‘’a base might be coming on’’.

Dollar/yen and Brent Crude futures are, according to her and most chart observers, in sideways bands, which again might just be a slightly unconventional attempt at basing. Interestingly she uses a combination of 20 and 200-day moving averages for the euro/dollar daily chart.

She moves over from daily charts to a longer term one to illustrate gold’s record high and it’s retracement resistance levels. In this example I must quibble with her use of ‘trend line’ – a horizontal line which starts in 2016; this cannot be a trend, because it goes sideways. And in fact this chart level – which was resistance and in theory should now be support – started in 2013. Back to the drawing board?

Click here to view.

 

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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.

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About Nicole Elliott

Nicole Elliott

A graduate of the London School of Economics and Political Science (BSc Social Psychology) Nicole Elliott has worked in banks in the City of London for the last 30 years. Whether in sales, trading or forecasting technical analysis has always been the bedrock of her thinking. Key expertise lies within all areas of treasury: foreign exchange, money markets, fixed income and commodities.

She has also added to the body of knowledge of the industry writing the first western book on Ichimoku Cloud Charts. Strong media links and a cult following are due to her prescient calls on the markets and often entertaining format.

Nicole can be contacted at trending@sta-uk.org

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