FIS API Blog
Verdict – Short-term neutral to bullish. China Wuxi Cobalt slight rebound but in general maintained stable during the past week. However MACD is creating a gold cross. Daily slow stochastic KD created gold cross above oversold area. CCI rebounded fast to reach bullish area. A potential bottom area is created if Cobalt rebounded with volume …
Continue reading “China Wuxi Cobalt Index Weekly Technical Review 23/8/2021”
Verdict – Short-term neutral. China Wuxi Cobalt entered a consolidation area from mid-April. Cobalt didn’t catch up the big voltality as other metals after Labor day. The decrease on trading volume in April in general trapped Cobalt market into a narrow consolidation range. Technical signals were indicating a very neutral trend in short-run as well. …
Continue reading “China Wuxi Cobalt Index Weekly Technical Review 10/5/2021”
Verdict – Short-term neutral. China Wuxi Cobalt corrected first as last report mentioned and finally tend to ground up in this coming Monday, after the volume growth which indicated some divergence. Slow stochastic KD created gold cross near oversold area. CCI rebounded from -100 area. MACD narrowed below 0 axis. Short-run recovery on 350-352.0 area …
Continue reading “China Wuxi Cobalt Index Weekly Technical Review 26/4/2021”
Verdict – Short-term neutral to bullish. China Wuxi Cobalt recovered slowly last week, however with significant decrease on both interest and volume since mid-March. Slow stochastic KD created gold cross near oversold area on March 24th. CCI rebound since March 12th. Technical signals were indicating a potential to extend rebound. The first support is 325.0. …
Continue reading “China Wuxi Cobalt Index Weekly Technical Review 29/3/2021”
Verdict – Short-term neutral. China Wuxi Cobalt created big volatility from last Thursday and Friday. However as whole metals sector tends to narrow the range, Cobalt potentially flattened during the this week. CCI rebounded from the yearly-low. Slow stochastic KD potentially create a gold cross above oversold area. Technical signals were indicating an exhaustion on …
Continue reading “China Wuxi Cobalt Index Weekly Technical Review 8/3/2021”
Verdict – Short-term neutral. China Wuxi Cobalt picked up significantly in line with global metals during past two weeks. However Cobalt reached Elliot wave 4 and almost exhaust the theoretical height of a standard wave 4. Slow stochastic KD increase. CCI was approaching the high of 2021. Short-term be aware of a test high and …
Continue reading “China Wuxi Cobalt Index Weekly Technical Review 22/2/2021”
Verdict – Short-term Bearish. China Wuxi Cobalt corrected significantly during the early Asian morning session with increasing volume. The slow stochastic KD created dead cross on overbought area in Jan 15th. CCI created double top in Jan 15th. Daily MACD was narrowing and potentially create dead cross in next few trading hours. Daily candles created …
Continue reading “China Wuxi Cobalt Index Weekly Technical Review 18/1/21”