[Premium] Three Charts For The Week Ahead

Last week we focused on US Dollar Index, Nifty Energy & Nifty India Defense.

Let's move into this week's topics. We have big important breakouts to track this week.

1.  The first chart we're looking at is the custom Equal weighted Fertilizers and Agro Chemicals Index that we created at ASC.

The sectors that are outperforming the market are putting up a really good show, to be honest. And Fertilizers and Ago Chems is one such space. You can see the constituents in the list mentioned in the chart. This particular index had been consolidating for a while but has finally broken out. One can see the strength come through in individual names as this index moves higher.

Definitely, an important sector to track with the current move.

2. The second chart we're looking at is Nifty Energy relative to Nifty 100. As can be seen from the chart below, there's no doubt about where the strength lies in the market as we speak. Nifty Energy has been moving sideways for a long time, and we finally have a breakout with follow-through. The relative strength chart is trading at 10-year highs! That's a massive base breakout. And this is also the shift that we're seeing in the market in terms of the sectors that are moving forward.

3. The third chart we're looking at is Natural Gas. It's truly flying away and reaching new heights! The price broke out above the level of 467 and hasn't paused for a beat. You can see the strong momentum in price in the price structure and move.

The next target to track is 685. And this is something that's playing out across the globe. Natural Gas has truly garnered all the attention.

In our view, these charts will help set the tone for this week and provide us with 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