The local market has moved up from an area of previous support and looks to be heading for the resistance zone around 8750. Can it break through before Christmas or will the prospect of having no December rate cut and higher inflation numbers take its toll?
The US Dow Jones Index has had a strong week so far and with better prospects of a December rate cut in the US it could set a new high before the new year.
Logistics mob Qube saw shares rise after news of a takeover bid.
Generation Development looks to have found support at these levels for now.
Interesting to observe that the price of Xero is trading lower than the “tariff” panic low back in April.
Temple and Webster shares were clobbered after their latest update.
Sims Group is again bumping up against a previous resistance zone.
Pmet Resources could be about to break above the fifty to fifty-five cent resistance zone.
Gold miner Genesis continues the upwards trend above the 30 week moving average.
One analysts view of the current gold price trend. With consolidation type patterns you just don’t know which way the price will move until they break out.
A different view of the gold price trend.
A “normal” mid-term slowdown in the US could be disrupted by any number of measures coming from President Trumps team to help boost the local economy and his currently low approval ratings.
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. Cheers Charlie.
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