The local market saw prices open lower today on the back of US markets closing down overnight and then steadily reclaimed most of that ground as the day progressed.
The US S@P 500 index looks to be testing support levels as analysts debate the short-term direction of the market.
After two similar weeks of prices spiking higher before dropping down, Ingenia dropped 13 per cent yesterday on the back of a disappointing result below market expectations due to building delays and a softer property market.
After what looked to be an excellent cash generating result Whitehaven Coal shares have slipped below a previous support level.
Gold miner Evolution looks to have run into resistance.
Aristocrat Leisure has again retreated from this resistance zone.
Copper miner Sandfire looks to be consolidating recent gains.
Data#3 is again testing the high-water mark.
G8 Education looks stuck in a large sideways pattern for now.
This graph shows how Canada’s inflation rate has dropped considerably in terms of the annualised monthly rate over the past year.
Australian inflation is due to head lower according to the AMP Pipeline indicator.
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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