Way to early to call the bottom in Gold, but this is getting interesting with the price back over $1080. A falling wedge can be very bullish in the long run, but will take more time to establish. A closing price over $1200 would be very interesting.
Last August the DOW30 and the Transports average diverged with the Transports making new lows while the DOW30 traded sideways until the last week of August when the market staged a capitulation into ta low on the 25th August. Well that divergence is in the Indexes again, dance close to the door.
WBC Part of the yield play in the Australian market> The daily chart shows the short term trend line support today. A pivot has formed with today price also taking out the highs from the past 2 days. Set a stop at todays low around $30.84
As a trading observation BAL Gapped down on open on the 4/12. The chart shows the low of that day at $12.33. Should the current price action close below that level we have a short term top in place.
The daily chart of ANZ also shows a nice bullish continuation with the price approaching the Cloud. When the cloud is thin as it is here the resistance at $28.15 would be considered quite weak. The future cloud has also given a bullish cross with the Span B crossing over Span A. Underlying all of this […]