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Weekly report 8th December 2014

Monday 8th December 2014.

The week ahead is being defined by today’s price action.
The Index has broken out above the down trend line and testing 5400 after closing at 5337 on Friday.
Support remains at 5335
Oil Price remains steady, no reason to move anywhere.

Very bullish moves by the banks ( see below )after the Murray report

XJO Daily

 

XFJ financials Index having a strong open for the week.
Small double bottom in recent price action.
Look for a retest of 6328

See NAB chart below showing bullish divergence, very strong move today.

XFJ

NAB Daily