The local market has again moved up off a lower support zone and close to a Fibonacci retracement level. Could this be the first leg up in a renewed bullish market?
The US Dow Jones index looks to have bounced off the 38,000 level for now.
James Hardie has fallen below the trend line and the most recent swing low.
Data#3 Ltd looks to be holding support.
REA Group is holding the support zone for now.
Gold miner Evolution is struggling to move above the $4 resistance zone.
Iluka looks to be building a basing pattern.
Iluka on a monthly chart is holding above a long term support level.
Lifestyle Communities is struggling to hold the support level.
Telix is looking interesting.
Megaport looks like it is making another bullish flag pattern.
Generation Development is trending strongly for now.
Resmed has made an interesting reversal type candle on the weekly chart. Can price finally clear the $30 resistance level?
Some recent facts on US inflation trends.
How quickly the views on markets change as different events unfold. As the markets calmed after Israel’s smallish attack on Iran the risk takers came back into the market.
Colin Twiggs latest views on Bitcoin are below. Looks like a sideways range until a decent breakout or perhaps an ABC pattern with C being around current prices with a retracement lower to come. It’s just an opinion and time will tell which way this plays out.
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.
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