Symmetrical wedge implies a continuation pattern with upside resolution. But fundamentals are bearish for Korea, including declining global trade, domestic political turmoil, U.S. protectionism, and the global dollar shortage.
Neutral until wedge breakout is confirmed.
Has also surpassed Dollar peak in Q4 2015 before reload. Keep an eye on YoY% change; decisive pivot to positive rate-of-change consistent with Dollar take-off in 2014.
From U.S. Election = 8.73% upside to GFC high. Channel-bound for now.
Yet to see a convincing upside breakout for WTI. Global growth is slowing and consumption is falling. What can save oil: massive supply disruption via conflict/war, USD debasement, coordinated production cuts (highly improbable, and if so only in name and not in practice). Bias is a double-bottom in oil but these political and monetary lunatics could go go off-script.
While the market ripped to new highs, albeit on low volume, AIG has struggled to break its own 50d MA in the past week. With NIRP, ZIRP, and flat equities since 2015, can't be good for AIG. Short into earnings...
