FINANCE

Charlie’s Charts 20th March 2019

The local market has been drifting sideways for a few days trading in a 100 point range just above a previous support and resistance zone and below the strong uptrend line from the December lows as commentators ponder the next move. The all-ordinaries accumulation...

Charlie’s Charts 13th March 2019

The local market continues to drift lower after a very strong run moving up from 5410 to 6270 a range of 860 points in 50 trading days which comes out at an annualised rate of 100 per cent per annum which is just not sustainable. The break of the uptrend line is shown...

Charlie’s Charts 6th March 2019

The price of gold fell below the current up trend line with a big range down after forming a classic bullish divergence pattern over the past month on the daily chart including a bearish candle last Thursday signalling a potential downwards move. The local market has...

Charlie’s Charts 27th February 2019

After a nice rally off the December lows the local market sold off yesterday after reaching a previous resistance zone with the biggest one day fall since early January. Resources have been leading the way up as financials struggle.   Highly rated and highly...

Charlie’s Charts, 20th February 2019

The local market is still trading in some sideways congestion just below a previous support and resistance zone.                               The gold price has moved up out of the small congestion pattern forming above a previous resistance level touching $1,344...

Charlie’s Charts 14th February, 2019

The local market slipped yesterday after a strong lead from Wall Street did not carryover here. The All Ordinaries Index has been trading in a tight range for the past few days. Some big names reported slightly less than stellar earnings including CSL which reported a...

Charlie’s charts 7th February 2019

The local market was boosted by the positive response from investors to the banking sector after the release of the final Hayne royal commission report and recommendations. Some say the recommendations did not go far enough in punishing those whose actions went...

Charlie’s Charts 30th January 2019

Things can change quickly in the markets and a weaker than expected result followed by a change in investor sentiment can really move the share price in a short time period. “Priced for perfection” stocks that report less than expected earnings and a subdued outlook...

Charlie’s Charts 23rd January 2019

The local market looks to have stalled at current resistance levels after a decent rise from the lows. Uncertainty on global growth prospects, a slowing China and trade uncertainty all weigh on future gains. The price of gold has also stalled at a previous resistance...

Charlie’s Charts January 16th 2019

  The local market has been moving steadily higher so far this year adding 2.9 per cent from the December close and over 7 per cent from the December low. Anything can happen in the markets and with lots of potential landmines to navigate it could be a very...

Charlie’s Charts 9th January 2019

Welcome to a new year everyone. The local market has moved up tentatively from recent lows following some good gains in overseas markets and a positive outlook on US trade talks with China. A daily chart of the ASX 200 index shows the current move up.      A...

Charlie’s Charts 12th December 2018

The local market has struggled to regains lost ground since closing below the support zone around the 5,650 mark. Analysts now speculate on where the next support level might be if the market continues to fall. The monthly chart shows the long term trend line from the...