Technical Analysis Report from Adam Smith Associates Pvt Ltd. Adam Smith Associates provide trade and commodity finance to its domestic and international clients with host of other related services.

1. Welcome To
Adam Smith Associates Pvt. Ltd
Technical Analysis Report
09/02/2017

2. Technical Analysis – 9th Feb 2017
Gold Technical Analysis Report
Spot gold starts a 3rd wave in dollar
terms as the daily momentum goes
back in buy mode. Wave 3 target is
near 1285$ without considering that
wave 3 will extend. Prices closed
above the 20 week average by a
dollar, but found support on all dips
to the 20dma at 1212 during the
week

3. Technical Analysis – 9th Feb 2017
Crude Technical Analysis Report
Crude continues to confuse you on
both sides, so you have to wait for a
confirmation. The price is within a
channel with the upper end at 54.6
and lower end at 52.47, a break out
of it is needed. The question
remains will we go to 62 first or 42
first. Not yet conclusive. The
neckline at 51.56 is the next support
and the swing high of 55.24 the
next resistance.

4. Technical Analysis – 9th Feb 2017
Platinum Technical Analysis Report
Platinum - Wave III up to 1070
starting. Support at 982

5. Technical Analysis – 9th Feb 2017
JPYINR Technical Analysis Report
A weak dollar is pushing lower the
USDJPY and JPYINR can be a play on
this move, of the Yen v/s the rupee.
JPYINR has been rising for a while.
At a larger degree on the weekly
chart below a 3rd wave [or wave C]
up has started. Wave 2 ended at
61.8% and the move up has the first
hurdle near the weekly averages
near 61. The 3rd wave equality to
the first wave projects to as far as 77
overall in the year ahead with
resistance near 66

6. Technical Analysis – 9th Feb 2017
DJ Euro Stoxx 50 Technical Analysis Report
Europe is where the weakest link is,
and European stocks were the worst
hit yesterday. The DJ Euro Stoxx
index started a minor wave iii
decline as the DAX broke the
previous swing low. So they are
leading the way. I suspect another
3-4 % dip in Europe to the lower
end of the rising channel as wave C
up is complete. Logically this should
be resumption of the bear market in
Europe, with Italy at the lead with a
wave 3 decline starrting

7. Technical Analysis – 9th Feb 2017
Euro Technical Analysis Report
Euro did close below the 20dma but
that does not change the medium
term trend. Short term it means we
are still correcting in wave ii of III, or
maybe wave III up still did not start.
1.064 is the immediate support and
then 1.0617 below that. Below
1.0617 it would mean we are still in
wave II and wave III has not started.

8. Technical Analysis – 9th Feb 2017
US 10 year T Notes Technical Analysis Report
US T-Notes broke out of the
inverted H&S pattern higher into
wave iii

9. Technical Analysis – 9th Feb 2017
USD AUD Technical Analysis Report
The Australian dollar is getting
stronger and the USDAUD broke its
wave 1 low without much of a
bounce. Wave 3 down has mostly
started and should see it to new
lows towards the 1.252 level, which
is below the multiple lows of last
year

10. Technical Analysis – 9th Feb 2017
USDTWD Technical Analysis Report
The weak dollar is slowly rubbing off
on most trends even in Asian
currencies. Did wave 2 circle at
larger degree end? When will 3 up
start. We will just have to wait for
some pattern to form. The initial
advance that I identified did not
work and now the USDTWD is falling
so there is no point in calling a
bottom till these pairs can diverge
from the weak dollar trend that we
are now witnessing across pairs.
This said we are very close to 30.85
seen last year and also near 61.8%
of the entire rally from 2013-2016.
So we have to wait for a sign near
term that the low is in.

11. Technical Analysis – 9th Feb 2017
USDZAR Technical Analysis Report
The South African Rand USDZAR -
Broke down from its long term rising
channel, that started in 2011, after
completing 5 waves up. The move
down in now in wave Z that can take
it to the lower end of the falling
channel since the 2016 top near 12.
No strong dollar here.

12. Technical Analysis – 9th Feb 2017
US Equities and Russel 2000 Technical Analysis Report
US markets are witnessing internal
divergences between their indices.
We may say that the Trump rally
ended, going by the Russel 2000
small stocks index. It ended in early
December from where this index
has trended lower. Only the Nasdaq
has gone higher since then. This
index has been in a range. So what
happens next? A breakout is needed
but inter market divergences always
precede potential trend reversals so
if the lower end breaks that is what
it will mean

13. Technical Analysis – 9th Feb 2017
Gold Silver Ratio Technical Analysis Report
In deciding on Gold v/s Silver this
chart makes it clear. Silver wins. The
Gold Silver ratio is declining from
the upper end of its long term
range. Silver prices are therefore
rising faster than Gold, except for
the recent pause during the
correction in Precious metals. The
indicator should drop much further
when prices move higher. Silver
usually moves up 2-3 times more
than gold. The ratio can go from 70
to below 45 as it has before. But if
you chose Silver remember that it is
more volatile both ways. If you do
not like volatility then Gold is always
s safer instrument

14. Technical Analysis – 9th Feb 2017
• Adam Smith Associates offers trade & commodity finance related services &
solutions to its domestic international clients. Views expressed in this article are
purely of the author - Mr Rohit Srivastava - a leading technical analyst.

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