[Premium] Three Charts For The Week Ahead

JC Parets
December 27, 2020

We retired our "Five Bull Market Barometers" in mid-July to make room for a new weekly post that's focused on the three most important charts for the week ahead.

This is that post, so let's jump into this week's edition.

Last week we focused on the US Dollar Index, Breadth analysis and Nikkei 225.

Let's move into this week's topics.

1.  The first chart that we're looking at is the Kospi 200 chart. While we were tracking Nikkei 225 last week in terms of the strength we were seeing in the Asian markets, Kospi 200 has become the first index to break out of the consolidation.

While major indices have in a minor trading range in the past two weeks, Kospi 200 is the first to have broken out of this range in the week gone by. Owing to this, we could see other Asian indices play catch up with the same trend.

Click on chart to enlarge view.

2. The second chart we'd like to look at is the GBP/INR chart which has been holding its ground above its crucial level of 97. The price has managed to close at a four-year high of 99.91.

Going forward, we may see levels of 104 being achieved in this currency pair.

3. The third chart we're looking at is Nifty Metal. This sector has performed well over the past two months and has inched higher towards our target of 3,475.

We will be tracking this space to see if it moves above this immediate resistance towards its next target of 4,200. A breach of 3,475 will lead to the next leg up in the Metals sector.

In our view, these charts will help set the tone for this week and provide us information on how we should approach the market in the coming weeks.

Also, make sure to check out our other weekly post, "Trade Of The Week."

Thanks for reading and please let us know if you have any questions.

Allstarcharts Team

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