After a few strong days up the local market looks to have stalled around the 50 per cent retracement level.
The weekly chart shows the slow grind up with the index in the upper half of the channel.
The price of gold moved above the US$2,000 an ounce level overnight with some analysts suggesting US$2,500 as a target.
Junior producer Red 5 has jumped up from recent lows.
A monthly chart of Resolute shows just how volatile this stock can be gaining a further 7 per cent so far today.
Lithium miners like Pilbara could head lower as lithium prices hit a new yearly low.
Telstra has just moved out of the past year’s trading range.
An interesting graph of monthly corporate insolvencies in Australia seasonally adjusted.
Looks like we could return to a relative boom in commodity prices.
The table below shows there is a decent possibility that the current rally in the US share market could continue.
Disclaimer: The commentary on different charts is for general information purposes only and is 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.
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