[Premium] Three Charts For The Week Ahead

Last week we focused on Kospi 200, Hang Seng & S&P Global 100.

Let's move into this week's topics.

1.  The first chart on our radar is USDINR. This currency pair has been playing with its support over the past few days and we're keeping an eye on it to see if the level of 72.90 is breached. In the event that 72.90 gets taken out, we're looking at 72.20 to act as a support as the principle of polarity comes into play.

Click on chart to enlarge view.

2. The second chart we're looking at is Silver. We've seen a good move in the precious metal over the past three weeks as it continues to outperform Gold. We're going to wait for Silver to break above 73,900, but we're watching this space to see if that happens soon.

Until then, we're happy to be an observer! Above 73,900 we're looking at a target near 99,470.

3. The third chart we're looking at is Nifty Energy. After a significant long-term breakout last month, the index has found it difficult to hold its ground at higher levels. Price has now moved back below 16,530.

Will this weakness continue going forward? We'll have to see. But going by the index constituents of this sector, we may have to wait a little longer for a strong upside move.

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