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Sunday, 29 June 2014

Turkey BIST 100 Index: 29 June 2014, Sunday, 11.25pm Singapore Time

Turkey BIST 100 Index: 29 June 2014, Sunday, 11.25pm Singapore Time

Technical Analysis of Turkey BIST 100 Index is as per illustrated in Monthly Chart above.
Turkey has completed its bull market and in the midst of making bear market transition confirmation in the double RED circles above. The bull market was completed with a shooting star in the monthly chart.

The double BLACK lines are long term supports that have turned into long term resistances now. Together with the minor double DARK BROWN resistance above, these form the launchpad for Turkey's New Bear Market at nascent stage.

82218.47-84867.35 points band in the Turkish BIST100 Index will ensure that the long term new Turkish Bear Market is sustained in the following few years down the road. This is a significant bear wave down.

TRYUSD: 29 June 2014, Sunday, 11.25pm Singapore Time
Chart courtesy of XE.com

Technical Analysis of Turkish Lira (TRYUSD) is as per illustrated in Forex Chart above.
The bear market confirmation of Turkish Lira was established during the end of 2011.
There are signs that Turkish financial markets are in distress.
It can be seen that Emerging Markets will face downhill and distressed economic realities in the following years to come.

Donovan Norfolk Technical Rating:
Exit Financial Markets
Sell/Short Financial Markets, Indices, Stocks & Equities
Signs of Topping Out; Transition from Bull to Bear Markets Worldwide

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