Trade Finance News & Updates Around The World

Trade finance gap narrows amid minimal fintech impact

The global trade finance gap has fallen from US$1.6tn to US$1.5tn, but the impact of fintech has been minimal to date.

The latest annual survey from the Asian Development Bank (ADB) finds that many of the perennial issues persist, such as funding gaps in emerging markets, hugely disproportionate rejection rates for small businesses and a rise in non-bank lending.

But despite the industry’s zeal for digitisation, just 20% of firms reporting have used digital finance platforms. In line with global trends, peer-to-peer lending is the most-used fintech model (23%).

And while 80% of banks surveyed said fintech will reduce compliance costs and 66% said that it will enhance their ability to assess SME risk, the rejection rate of SMEs continues to rise.


Jamii Bora bank introduces trade finance to support entrepreneurs

Jamii Bora provides trade finance that supports enterprises and entrepreneurs by providing practical and flexible financial services that are tailor made to customers’ needs. Trade finance offers insurance Premium Financing, Overdraft facility, Letters of Credit, Bora Customs Duty Facility, LPO Financing, Invoice Discounting, Bid Bond, Performance Bond, and Advance Payment Guarantee.

Trade finance targets contractors, Suppliers, Manufacturers, Retailers, Wholesalers, Distributors, Insurance brokers, Insurance companies, importers, and exporters.


Trade Finance Endures, And Overcomes, Banks’ Slow-Moving Innovation

A few years ago, Sameer Sehgal, the new CEO of trade finance firm Traydstream, said he probably wouldn’t have agreed that banks are playing a role in the innovation of the industry.

But trade finance is the target for massive disruption thanks to technologies like blockchain and robotics, Sehgal told PYMNTS, and banks are finally perking up to the need for progress.

Still, it’s not enough. Recent estimates from the Asian Development Bank pegged the global trade finance gap at $1.5 trillion in 2016, with SMBs bearing the brunt of that lack of financing for their global trade initiatives. Despite efforts from the FinTech community, the gap remains, and automation is far from ubiquitous, Sehgal said.

“Trade finance, in large part, hasn’t changed, even in centuries,” he explained. “The inefficiencies of processes are glaring — humongous.”


Global trade finance gap stands at $1.5tr in 2016: ADB

Businesses of all sizes continue to struggle to access sufficient credit, resulting in a global trade finance gap of $1.5 trillion in 2016, according to an Asian Development Bank (ADB) brief released on Tuesday.

Developing Asia’s share of the trade finance gap was 40% of the global total, the brief added. In its fifth annual study, 2017 Trade Finance Gaps, Growth, and Jobs Survey, ADB quantifies market gaps for trade finance and explores their impact on growth and jobs through a survey of over 515 banks and 1,336 firms from 103 countries.

While the global trade finance gap stabilised in 2016 compared to the 2015 record high of $1.6 trillion, it still translated into missed growth opportunities and job creation.


Tunisia: UIB gets USD 10-million trade finance line from EBRD

In the framework of the implementation of its 2017-2020 development strategy supported by its activity and its offers for companies and SMEs, the “Union Internationale de banques” (UIB) announced the signing of a Trade Finance Partnership Agreement with the European Bank for Reconstruction and Development (EBRD).

This line, totaling $ 10 million (equivalent to 24.4 million dinars), is intended to cover issues of guarantees maturing up to 3 years and financing pre-export and post-import transactions.

This agreement consolidates and broadens the UIB’s partnership with EBRD inaugurated on the conclusion on June 22 of a credit line dedicated to the financing of SMEs and mid-size enterprises in the amount of € 40 million and a maturity of 7 years.


Bank of Georgia Signs $75 Million Trade Finance Facility with ADB, IFC, Citibank

Bank of Georgia has signed a $75 million one-year Club Trade Finance Facility (Club Trade Facility) arranged by Citi with the Asian Development Bank (ADB) and the International Finance Corporation (IFC), a member of the World Bank Group.

This is the fourth Club Trade Facility arranged by Citi for Bank of Georgia, which attracted several international investors during the syndication.

Bank of Georgia is a leading Georgian bank, based on total assets (33.8% market share), total loans (31.5% market share), and client deposits (31.5% market share) as of 30 June 2017.

Proceeds of this year’s Club Trade Facility will support import and export transactions for top corporate customers of Bank of Georgia, increasing the volume and value of trade transactions in Georgia’s key economic sectors, including agribusiness, transportation, and energy.


A view from the ICC: Changing times call for a collaborative approach

The International Chamber of Commerce (ICC) Banking Commission’s new head of policy, Olivier Paul, discusses how the Banking Commission’s role will be critical as the trade finance industry adapts to unprecedented change.

There are some fundamental challenges ahead for trade finance: involving the regulatory landscape, the technological evolution of our industry and the vital inclusion of new non-bank sources of liquidity. These changes will involve everyone, meaning we will all need to adapt, including the ICC Banking Commission, where I recently became head of policy.

Yet I remain optimistic. For trade finance as a discipline, I am convinced that its best years are ahead of it, as long as we can embrace the future and view change as part of an evolutionary process rather than an existential threat. In fact, I see the Banking Commission’s role as vital for preparing the industry for that future, as well as being an advocate and influencer of the changes underway.

Just 20 years ago the most important role for the Banking Commission was rule-making, with advocacy a second, though still important, function. Since the 2008 financial crisis, however, these roles have been reversed, with advocacy of trade finance now the Banking Commission’s most critical function


White Oak Commercial Finance Provides $20MM Factoring Facility to Luxury Goods Distributor

White Oak Commercial Finance, LLC (WOCF), one of the nation’s leading financiers serving the middle market, announced today that it has provided a $20 million dollarfactoring facility to a distributor of luxury and branded apparel, accessories, handbags and watches. The proceeds will provide working capital to purchase inventory, manage account payables, and repay existing debt.

“White Oak Commercial Finance has a deep history in retail financing, having provided designers, importers and manufacturers of retail goods with access to growth and working capital for nearly 30 years,” said Robert Grbic, President and Chief Executive Officer, WOCF. “With strong historical profits and seasoned management team, this luxury goods distributor is an ideal company to finance.”


Blockchain and invoice finance: an early benefit analysis

Blockchain technology is generating huge amounts of hype across a number of industries – perhaps none more so than financial services. One area of finance that has received less attention to date is invoice financing. However, as we explain in this article, blockchain has the potential to revolutionise invoice financing, for the benefit of suppliers, debtors and financial institutions alike.

To start with it will be useful to briefly summarise what blockchain actually is. For a more detailed explanation of the Blockchain technology and some of the legal considerations with its adoption, see our introduction to blockchain.



Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic and international clients. Above news update and trends are sourced from internet and are purely meant for reading on the related subject and for information. Adam Smith Associate is not responsible for any of the content and nor it is meant for any commercial benefits



Adam Smith Associates at CIIs’ Banking Colloquium on 16 September, 2017

As the economy moves towards digitization and cashless regime and single market structure under the reform measures of GST and demonetization, Indian Banking sector is going through a sea change.

The recent merger of the State Bank of India with its associate banks has set the path of consolidation for other banks as well. India has the world’s highest stressed asset ratio and RBI is working prudently for management of stressed assets made up of bad loans, restructured debt and advances to companies that cannot meet servicing requirements.

The microfinance industry and the non-banking financial institutions need to work for a change in their financial transactions, a major chunk of which was based on cash transactions till recently.

The new Insolvency and Bankruptcy Code, which lays down timeline to recover from defaulters and capping of bank loans to conglomerates, is promising a new Indian banking landscape by bringing transparency in the system and effective resolution to bad loan.

The issue of cyber security for the banks is now a pressing issue for the economy since the wave of digitization has set in.

Against this backdrop, CII Eastern Region is organizing the 10th edition of “Banking Colloquium” on Saturday, 16 September, 2017 at The Lalit Great Eastern, Kolkata.

The Conference will have an Inaugural Session on Recent Policy Measures, Visionaries’ Roundtable and Technical Sessions on Insolvency and Bankruptcy Code for NPA Management, Digital Banking and the future and Session on Alternative Modes of finance.

Adam Smith Associates Pvt Ltd, a leading trade finance service provider with presence around the globe will be leading the discussion during Technical Session on “Alternative Mode Of Finance” at CIIs’ 10th Banking Colloquium on Saturday 16th Septmber 2017 at Kolkatta.

Mr Rudra Kundu, Managing Director of Adam Smith Associates Pvt. Ltd. will be moderating the session on Alternative Mode Of Finance wherein Mr Rudra will touch upon

  • Infrastructure Finance
  • Capital controls and global free flow of capital
  • PE Funding
  • Housing Finance
  • Term Financing & Working Capital Finance


Panelist for this session will be

Mr Arup Rakshit
Head – Treasurer Advisory Group
HDFC Bank Limited

Mr Santosh Nayar

Mr Debasish Mallick
Deputy Managing Director
Export Import Bank of India

Mr Supratim Sarkar
EVP & Group Head (PA & SF), SBI Capital Markets Ltd.

Mr Manish Jaiswal
MD & CEO, Magma Housing Finance Ltd

This event is organized by CII

Adam Smith Associates At GTR Asia (Singapore)

Building on its reputation as the largest and most popular trade finance gathering anywhere in the world, the conference returned to Singapore on September 5-8 at Marina Bay Sands. With over 100 speakers, 45 exhibitors, 60 sponsors & partners the event provided an effective and impartial marketplace for all involved in trade, commodity and export finance.

Officially completing its 9th year, attendance exceeded the 900 plus delegates of 2016’s event and welcomed over 1,000 delegates, affirming that GTR Asia Trade & Treasury Week as the essential place to be for anyone involved in international trade and treasury.

Topics discussed include:

  • Protectionism vs multilateralism, realignment towards China, economic trends and scenarios
  • Trade finance gaps in 2017: The impact on trade, growth and jobs
  • The Belt & Road Initiative: The jewel in Asia’s crown?
  • Great expectations: How is the industry preparing for the era of fintech-enabled trade finance?
  • Trader perspectives on the commodity rebound and challenges in structured commodity finance ›› Country profiles: Vietnam, the Philippines, India, Bangladesh and Sri Lanka
  • Understanding potential threats to trade and economic stability in Asia
  • The role of insurers in managing and mitigating risk in uncertain times
  • Managing and financing Asia’s supply chains and the importance of working capital optimisation
  • Achieving sustainable trade: The challenges ahead
  • Are more investors accessing the trade finance market? What are they looking for?
  • ‘The business of treasury’: Operational challenges and the strategic environment

Mr Rudra Kundu, Managing Director was a panelist at the at the “Trade & Commodity Finance” stream from Adam Smith Associates Pvt Ltd.  Wherein the interview was conducted by Mr Rudra on topic

Are more investors accessing the trade finance market? What are they looking for?

Clement Schappler, Chief Risk Officer, EFA Group & Pankaj Kumar, Chief Executive Officer, Riqueza Capital were interviewed
by Rudra Kundu, Managing Director, Adam Smith Associates Pvt. Ltd.

● Examining the key factors in new kinds of investors looking at trade finance assets: How has this manifested itself in Asia? Is a different outlook required from that of traditional investment banking?
● What are investors looking for? Is it the type of yield or whether the asset is backed by insurance? Are we seeing more long-term interest? How difficult is it to get the right level of trade expertise?
● To what extent can supply chain finance play a role in handling investors and underwriting investments? To what degree have legal concerns been addressed?

EURO, EURINR and USDINR Currency Technical Analysis


The Euro completed wave 3 up from the Jan 2017 bottom. Draw a trendline of the highs and project a reverse channel down for wave 4 potential. Wave 4 goes either to the wave 4 of lower degree near 1.166 or the lower end of the channel at 1.147 and rising. It can take up to a month to develop. Wave 4 can also be a time consuming triangle that does not go down as much but in a range till it touches the lower channel line that is rising.


EURINR – Against my earlier count that wave 5 was complete it probably is doing that now. Prices have moved up in a channel and we maybe due for the first serious set back for the EURINR since it started the move up. This 5 wave rise should be wave 1 of a long term bull market and the coming correction wave 2 down. 23.6% retracement at 75 and 38.2% at 73.7 are the first two support levels to watch.


USDINR retraced 61.8% in minor wave ii down at 63.85 and is finding support there. Holding this wave iii=i points to 64.60 next on the way up in what should develop as an impulse.

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic and international clients. Views expressed in this article are purely of the author – Mr Rohit Srivastava – a leading technical analyst. Visit for services offered by Adam Smith Associates Pvt Ltd


US 30 Years Treasury Bonds & NASDAQ Composite Technical Analysis

US 30 Years Treasury Bonds

US 30 year bonds are still within retracements limits for wave II up, so while there is no change in the wave counts or view, wave II has gone up to 78.6% and wave III remains far overdue to start. The third wave in bond yields would see big jump in US interest rates and rub off on other bond markets around the world as well.


The Nasdaq stopped at the 20dma resistance, however we cannot rule out a 61.8% retracement to 6355 before wave 3 down starts. Not necessary but possible.

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic and international clients. Views expressed in this article are purely of the author – Mr Rohit Srivastava – a leading technical analyst. Visit for services offered by Adam Smith Associates Pvt Ltd

Zinc, Crude and Corn Technical Analysis


Zinc daily momentum is in sell mode on daily charts. Prices paused near the 204 mark that can be a double top in wave 5. A move higher can mean that wave 5 is still extending. But till then we have made a near term peak that can result in a wave iv of 5 consolidation or a double top. Next support is at 191. A wave iv consolidation should not see us fall below 38.2% retracement near 193, so 193-191 are important supports, below which we could be in a larger decline or correction to the trend.


Crude is forming a long term triangle in wave B. Wave E down is the final leg of the triangle and in it prices can test the lower trendline near 2750 before completing the pattern.


Agro commodities are declining again in either wave Z or E on long term charts. I reworked Corn, to expect wave C of Z down. Wave B of Z retraced 66% and is a triangle and wave C=A goes down to 270. I was expecting a bottom near the 2009 low and we may test it once more near the 290 level.

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic and international clients. Views expressed in this article are purely of the author – Mr Rohit Srivastava – a leading technical analyst. Visit for services offered by Adam Smith Associates Pvt Ltd



News & Updates On Trade Finance Around The World

Trade finance moves toward digitization

R3, the blockchain-focused consortium of banks and tech developers, has developed an app on its DLT Corda platform focused on trade finance. The app will work in the same way as standard letters of credit, in recognition of how effective these are at mitigating risks. It was developed with a specific test group of 12 mainly Asian and European banks, including Bangkok Bank, HSBC, Intesa Sanpaolo, and Mizuho.

The banks are now looking to pilot the app with clients, and hope to make it widely available from 2018. The app development group includes tech platform CGI, which was able to bring in its own trade finance domain knowledge and work with the banks to capture the best generic industry practice for implementation within the app, and design the user interface


Fintech Firms Nimbly Moving Into Rather Massive Global Trade Financing Market

The ongoing digital transformation of business-to-business (B2B) payments has been well chronicled by Mercator Advisory Group. Part of that transformation can be found in the advancement of alternative cash cycle finance capabilities, led by nonbank financial technology (fintech) vendors during the past 10 year.

There is much debate about the actual opportunity for supply chain finance, probably as much as is there is confusion around the definitions. In the view of Mercator Advisory Group, the market is globally robust with a more than trillion dollars of estimated available open account financing still ripe for working capital improvements on either side of the supply chain.


Trade finance startup Traydstream names Citi veteran Sameer Sehgal CEO

London-based (Trade Finance) FinTech firm, Traydstream has appointed Citi Bank’s ex – Head of Trade for Europe, Middle-East & Africa (EMEA), Sameer Sehgal, as its Chief Executive Officer (CEO). He brings over 22 years’ expertise in Trade, having held several senior roles over the years.

Traydstream’s Co-Founder and Chief Operating Officer (COO), Uzair Bawany, said of the hire, “In Sameer we have one of the leading figures in global Trade Finance; his appointment is invaluable to us in charting a course for the exciting future for our business”. Sehgal will lead Traydstream through a crucial period for the company, with its first programmes beginning with banks over the third and fourth financial quarters of 2017.

Bank of Georgia seals US$75mn trade finance facility

Bank of Georgia has signed a US$75mn trade finance club deal. The one-year facility was arranged by Citi with Asian Development Bank (ADB) and IFC. ADB supported the facility with a guarantee through its trade finance programme (TFP), and IFC provided funding through its global trade liquidity programme (GTLP), together with Citi.
This is the fourth such deal arranged by Citi for Bank of Georgia.

The funds will be used to support import and export transactions for corporate clients in key sectors including agribusiness, transportation and energy.

“We are pleased to be at the forefront of providing much-needed trade finance products to our corporate and SME clients. The facility will not only diversify and strengthen our client base, but also serve to contribute to sustainable economic growth in Georgia,” says Bank of Georgia CEO Kaha Kiknavelidze.


Maersk seeks role in trade finance as banks retreat

Maersk Line, the world’s biggest container shipper, is venturing into trade finance, as it seeks to fill a lending gap left by indebted banks pulling out of the crisis-hit shipping industry.

Moving into traditional bank territory and further down the shipping value chain, Maersk Line, part of A.P. Moller-Maersk (MAERSKb.CO), is offering to finance shipments and remove the paper trail from financing deals.

Maersk says it has no need to ask for collateral – one of the biggest headaches for banks and customers in trade finance deals – because it is carrying the goods on its vessels.


U.N. role in world finance
GROWING global interdependence poses greater challenges to policymakers on a wide range of issues and for countries at all levels of development.

Yet, the new mechanisms and arrangements put in place over the past four decades have not been adequate to the growing challenges of coherence and coordination of global economic policymaking. Recent financial crises have exposed some such gaps and weaknesses.

Although sometimes seemingly slow, the United Nations (UN) has long had a clear advantage in driving legitimate discussion on reform because of its more inclusive and open governance. Lop-sided influence in the current international financial system is a principal reason why many countries lack confidence in existing arrangements.

Rebuilding confidence in such arrangements will require that all parties feel they have a stake in the reform agenda. But the UN is also suited to drive the discussion because of its long tradition of reliable work on international economic issues.


TradeCap Closes $500K Trade Finance Facility With Colorado Toy Company

TradeCap announced the recent closing of a $500,000 Trade Finance Facility with a fast growing,
Colorado based toy company.
The Company experienced exponential growth in FY 2016 and sales through 2Q2017 had already surpassed that of the prior year. In the midst of booking orders for its upcoming holiday season, the Company received a sizeable order from a new customer. The increased order was incremental to the normal seasonal needs and created an inventory finance need over and above what the Company’s existing working capital base could support.

Afreximbank, finance professionals to meet on structured trade finance

The African Export-Import Bank’s (Afreximbank) says it is committed to boosting African trade by enhancing the capacity of African professionals on international trade and trade-related project financing issues.

The bank said that as part of its efforts in this regard, it is organising a workshop for stakeholders on Structured Trade Finance in Cape Verde from Nov. 6 to Nov. 9.

The bank said in a statement in Lagos that the workshop was being organised in collaboration with the Ministry of Finance of Cape Verde.

The statement quoted Dr Benedict Oramah, President of Afreximbank, as saying that the workshop was also an important platform for African bankers and other trade finance practitioners to make major contributions that would boost African trade.

Trade Trends: Blockchain provides opportunity for ‘radical’ trade automation

It’s no secret that the process of global trade is overly manual and could be made more efficient if both the corporations that import and export and the governments that regulate trade were to implement better platforms and processes
The open-source, distributed ledgers known as blockchains are now mature enough to be considered as a viable part of the technology stack for global trade. While implementing it now would be like going to the supermarket via a space shuttle, blockchains are an increasingly relevant part of conversations that surround trade technology, and trade practitioners should take note.

Blockchain was originally designed to support the development of Bitcoin by an individual or group using the pseudonym Satoshi Nakamoto. Blockchain maintains permanent, tamper-proof lists of records, bundles them into blocks, and chains them together where they are distributed through a peer-to-peer network. When changes are made to the information, or ledger, those changes are recorded across the blockchain.


BBVA joins Singapore-based trade finance platform
BBVA has recently joined the Singapore-based Capital and Credit Risk Manager (CCRM) platform as a full member bank.

CCRM is a Digital Market Place providing a secondary market for trade and working capital risks, owned by Tin Hill Capital and supported with a grant from the Monetary Authority of Singapore (MAS) Financial Sector Development Fund.

The trade finance asset distribution business helps improve portfolio risk and efficiency by releasing liquidity, as well as enhancing service to clients. The market-place model of participation of the different financial entities in the platform facilitates benchmarking and negotiation and will help create a sufficient critical mass in this secondary market.


UAE Exchange in talks with blockchain brand Ripple

One of the UAE’s oldest money exchange houses says it is in talks with US blockchain start-up Ripple, over a tie-up to streamline payments.

UAE Exchange is eyeing a deal with Ripple to help it introduce real time, cross-border payments using blockchain technology.

Blockchain is an electronic transaction-processing and archive system that allows parties to track information in a secure network with no need for third-party verification.

It is the underlying technology that facilitates the use of virtual currencies or ‘crypto-currencies’, such as Bitcoin and Bitcoin Cash, which are becoming increasingly popular around the world.

UAE Exchange claims incorporating blockchain into its processes would help it cut the speed and cost of money transfers for its customers. The remittance house has already invested in two other blockchain-related companies within the past six months.


Two senior staff leave Mitigram to set up advisory firm

Chris Hyde and Jaime Gimeno have left Swedish fintech company Mitigram to found Avant Trade Solutions, a trade finance advisory firm.

The firm will help corporates and banks navigate the rapidly expanding fintech domain, while also helping fintech firms steer the complex world of trade finance.


Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic and international clients. Above news update and trends are sourced from internet and are purely meant for reading on the related subject and for information. Adam Smith Associate is not responsible for any of the content and nor it is meant for any commercial benefits


Strategic Trade Risk Mitigation Solutions


Are you about to enter the domain of international trade and expand base in India? If yes, it is imperative for you to know about the variegated challenges you might have to face. To name a few, politics, law, finance and more, can affect your venture. With tonnes of responsibilities to shoulder, you may find it hard to concentrate on the trade risks and their solutions. In such circumstances, a trade finance company can come to your assistance.  The professionals can not only tell you about the potential risks, but also advise you in trade risk mitigation planning.

Here are 4 Mitigation Strategies to look into.

Decide On An Apt Business Partner

Your business partner in India is your support in an unknown, foreign territory. Choose a partner, which has professionals, who are familiar with the business practices, culture and regulations in the host country. Remember, a strategic alliance, with the right collaborator can provide you with a sound idea about your target market.

From document filing to obtaining permits and registering the business, your partner may assist in a wide sphere of necessary actions.


Evaluate The Political Environment

Changes in the political landscape of India, a developing economy, may destabilize the import/export policies and foreign exchange rate. Also, such changes can usher in the collapse of the entire system. This includes a massive transformation in the legal and security environment bringing about disruptions in trade. Conduct a thorough research of the political background before you make your decision. The trade risk mitigation strategies that follow, curtail the probable losses that can unbalance your business plans.


Design An Effective Business Model

India is a vast country with diverse geographic features and market segments. Therefore, creating a business model catering to the demographics is a necessity. You may opt for a multi-part model with tailored strategies to suit the demands of each region. For this purpose, factor in the aspects like, social, economic and cultural differences, that influence the business environment. The model should elucidate all the indirect and direct costs including tariff and duty calculations, shipping methods, protectionist laws, etc.

One of the most significant determinants while creating a business model is understanding what the customers want. Try to learn about the market demand, so that you can focus on offering exactly what the people are looking for. For instance, whether the customers are inquiring about premium or basic products should be assessed. Once you have an in-depth perception, you can steer clear of supply chain disruptions.


Prepare An Alternative Plan

Lastly, devise an exit plan. Anything may happen – a flood, a political turmoil or infrastructural issues resulting from them. Therefore, while planning the model, you should make a calculation of the losses that you might incur in your venture. Establish and track the metrics that measure your failure or success level, and establish objectives accordingly.

The associated risks of establishing trade relations with India are numerous. Recognizing them through careful market scrutiny and venturing to opt for trade risk mitigation strategies reflect the attitude of a successful business owner.

For more information on what you can gain by working with us, contact us today!

All eyes on DJIA and what about Dow Transports

All Eyes are on the DJIA, while the Dow transports just started wave v down forming a 5 wave decline ahead of other indices.

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic and international clients. Views expressed in this article are purely of the author – Mr Rohit Srivastava – a leading technical analyst. Visit for services offered by Adam Smith Associates Pvt Ltd

Amazon & Facebook – technical analysis report

Amazon sold off from the upper end of the channel after wave 5 and is below both the averages.


Facebook – a 5 wave advance maybe complete with the channel.

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic and international clients. Views expressed in this article are purely of the author – Mr Rohit Srivastava – a leading technical analyst. Visit for services offered by Adam Smith Associates Pvt Ltd