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The price of gold​​ has fallen​​ through a likely support level and could retrace more of the recent gains as seen on this daily chart. In part​​ gold​​ has been put under pressure by a stronger US dollar.

C:\Users\jb hifi\Pictures\V6HlORPh.png

A longer term chart of the gold price​​ shows a​​ potential support zone​​ near the most recent breakout. In recent years the month of December has seen some interesting turning points.

 

C:\Users\jb hifi\Pictures\xauusdo_pm28may09_to_16jul20.png

The​​ All Ordinaries index was off to a pretty ordinary start​​ in​​ morning​​ trade​​ opening​​ down 90 points​​ as major banks​​ and miners​​ led the index​​ down. Lower interest rates​​ will​​ cut the profit margins for banks with analysts cautious on how this may play out in maintaining dividends.​​ US markets closed lower overnight.

 

Evolution has retraced back to just above the long​​ term trend channel. Where it moves from here is the key question. Generally when the price has moved below the most recent short term trend line price has moved back to the lower support​​ line​​ of the channel.

C:\Users\jb hifi\Pictures\evn_ax11dec15_to_13dec19.png

 

Senex Energy moved down below our support level and we were stopped out.​​ C:\Users\jb hifi\Pictures\sxy_ax26jul18_to_17oct19.png

Resolute also moved below our potential support level and we sold. We are keeping a close eye on the gold sector.

C:\Users\jb hifi\Pictures\rsg_ax11apr18_to_21oct19.png

Class has finally moved above the downtrend channel and could be forming an interesting ABC type pattern.

C:\Users\jb hifi\Pictures\cl1_ax03mar16_to_09dec19.png

Nearmap looks to be forming an interesting consolidation pattern. A move higher could see a potential trade.

C:\Users\jb hifi\Pictures\nea_ax05oct18_to_15oct19.png

​​ Lovisa has recently moved to fresh highs. Can it hold up this time around? A possible trade is looming.

C:\Users\jb hifi\Pictures\lov_ax03mar16_to_09dec19.png

​​ Megaport is forming a potential bullish flag pattern with some low risk entry levels​​ yet to trigger a buy signal.

C:\Users\jb hifi\Pictures\mp1_ax26jul18_to_17oct19.png

Table

 

 

Security

Units bought (sold)

Date

Open price/

From last table

Current/close

$ gain/loss

Bought CSL

3/12/18 $183

c/f 9/1 at $192.31

Bought 15 at $192.31

9/1/2019

$237.82

$238.39

+$8.55

Bought Westgold

 

Bought 1,500 at $1.03

7/2/2019

$2.49

$2.32

-$255.00

Bought Cooper Energy

Bought 5,000 at 53

18/4/2018

59c

57.5c

-$75.00

Bought Evolution

 

Bought 600 at

$3.25

9/5/2019

$4.80

$4.54

-$96.00

 

Bought Qube

 

Bought 1,000 at $3.04

26/6/2019

$3.16

$3.24

+$80.00

Bought Ecofibre

 

Bought 1,000 at $2.80

18/7/2019

$2.90

$3.04

+$140.00

Bought Western Areas

Bought 800 at

$2.26

8/8/2019

$3.18

$3.17

 

-$8.00

Bought IPH

 

Bought 400 at $8.55

19/8/2019

$8.71

$8.86

+$60.00

Bought Capitol Health

Bought 10,000 at 24c

28/8/2019

23.5c

23.5c

Steady

Bought NextDC

 

Bought 400 at $6.55

28/8/2019

$6.21

$6.28

+$28.00

Bought Reliance Worldwide

Bought 800 at $3.70

28/8/2019

$3.94

$4.11

+$136.00

Bought Eclipse

 

Bought 1,500 at $1.55

4/9/2019

$1.78

$1.74

-$60.00

Bought Lifestyle

Communities

Bought 300 at $7.20

4/9/2019

$7.65

$7.66

+$3.00

Bought Senex

 

Bought 7,000 at 41c

5/9/2019

39.5 c

Stopped 26/9 at 36c

-$275.00

Bought Whitehaven Coal

Bought 800 at $3.50

11/9/2019

$3.11

$3.15

+$32.00

Bought Santos

 

Bought 350 at $7.80

16/9/2019

$7.85

$7.68

-$59.50

Bought Resolute

 

Bought 1,500 at $1.55

16/9/2019

$1.58

Stopped 30/9 at $1.42

-$270.00

Bought Kogan

 

Bought 500 at $6.25

25/9/2019

$6.25

$6.27

+$10.00

Bought Money3

 

Bought 1,200 at $2.25

25/9/2019

$2.25

$2.27

+$24.00

 

 

 

 

 

 

 

 

 

 

Start ​​ 7/1/19 $50,000.00

Open balance

$72,093.25

 

$72,093.25

 

 

 

 

Gains/losses week

-$576.95

 

-$576.95

 

 

 

Current total

$71,516.30

 

$71,516.30

Brokerage at

$30 per round turn added when sold.

 

 

Less purchase, close prices/FX/

Margins

$49,619.85

 

$49,619.85

Prices ​​ from​​ 

Tuesday’s close or 6am for US

 

 

Cash available

$21,896.45

 

$21,896.45

 

 

 

Disclaimer: The commentary and trading positions taken are for educational purposes only and are not an invitation to trade. Trading is risky and individuals should seek Professional counsel before making any financial decisions. Many thanks to Incredible Charts.com software for most of the charts used in the column.  ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​ ​​​​ 

​​ Monitor, measure, manage and maximise… Cheers Charlie.