Charlie’s Charts 8th May 2024
The local market has now made two spikes lower very close to the 7,500 level. Will this rebound make a new high? Silver on a daily chart shows a nice rebound off a support/resistance zone. Will that be it or is this just the first leg in an ABC type correction down? Time will tell. The weekly silver chart shows the different story of price running into long-term resistance. It looks like the locally listed FANG ETF has made a false break lower for now. Market heavyweight BHP is languishing near yearly lows. RIO on the other hand is […]