Business

The local market had the worst day for a month down 0.7 per cent yesterday after coming within 100 points of the all-time highs. At the time of writing it is down another 100 points. The long ASX 200 cfd trade did not work out as expected. We closed half the position before the weekend to reduce our downside risk and closed the position at the close of trade Monday after a disappointing session. The price of gold looks to be headed higher after overcoming a previous resistance level. We sold the Harvey Norman position after it moved below the […]

The local market is rising nicely now making a new yearly high yesterday and looks to have moved above the recent sideways congestion. A weekly chart of the ASX 200 index. The price of gold could have formed a double bottom type pattern as it moved above congestion. Magellan Financial has moved up from the recent lows. Aristocrat Leisure has posted a new yearly high. Washington H Soul Pattinson has made fresh highs after overcoming a potential resistance zone. Clinuvel has made a nice bounce up from a possible support zone. Recent buy Brickworks could be consolidating the break above […]