Tuesday, March 26, 2013

Technical Analysis: Tehran Stock Exchange Closes At All Time High

The TSE beat the S&P 500 to a new record. 
Via Uskowi on Iran:
....Mobarakeh Steel Company of Isfahan led the industrial sector, followed by Isfahan Refinery, Parsian Oil and Gas, and Melli Mes (copper)....
Here's the Tehran Stock Exchange.
Here's the TSE (English) homepage.
And here's the chart via finanzen.net:

TEPIX 

As can be seen on the one year chart the index has just broken to the upside from a 2 1/2 month channel.
The  39,351.10 close is the all-time record.
Hows them sanctions working out?

Just kidding.
Between the sanctions and the easy money policy of the Central Bank's Governor, Dr. Mahmoud "Ben" Bahmani, claims on the means of production are rising in nominal value.
(Index Mundi shows a 23.6% CPI estimate for 2012)