FINANCE

Charlie’s Charts 15th May 2019

The local market closed up from the lows yesterday after US markets fell in response to trade tensions with China. The Dow Jones Index recovered over half the losses last night.   Gold moved up from a small consolidation pattern on the daily chart with some...

Charlie’s Charts 8th May 2019

The local market closed well off the highs yesterday as US Futures markets again showed a possible big fall in their markets as increasing uncertainty surrounds trade deals with China. We took a small short position in ASX 200 cfd’s to help hedge any further falls....

Charlie’s Charts 1st May 2019

The local market posted an 11 year high late last week and the MACD indicator did not make a fresh high which suggests a period of weakness may be ahead. Perhaps a shorting opportunity is coming up for traders or a time to hedge positions for investors. The US [email protected] 500...

Charlie’s Charts 24th April 2019

The local market moved up strongly yesterday to post a fresh high for the year and is not far away from last year’s high at 6,373 thought still shy of the 6,850’s last seen in 2007. The longer term monthly chart putting the 2007 high into perspective. The tech heavy...

Charlie’s Charts 17th April 2019

The decline in the price of gold overnight below the recent support level offered traders a chance to go short and we sold 2 mini contracts close to the breakout and have put in a close stop for one contract should price quickly change direction. We posted a gold...

Charlie’s Charts 10th April 2019

After moving slightly above the March high the local index has retreated with 2 down days followed by 2 “inside” days which marks some indecision by traders. The index remains above the previous support zone and we closed out our remaining position when the index...

Charlie’s Charts 3rd April 2019

The local market again hit an intraday high in early trade yesterday on the back of strong overseas moves only to fall back in afternoon trade. The index is having a hard time moving above the resistance zone where we took some short-term profits. The four hour chart...

Charlie’s Charts 27th March 2019

After a big fall on Monday that followed on from weak numbers out of overseas markets the local market held steady yesterday and could be on the cusp of further falls as the global growth outlook slows. Some traders are looking for another trigger to add to their...

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...