FINANCE

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...

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...