Incredible Charts Stock Market Charting Software. Home Site Map About Us Privacy Policy Advertise (pdf) Contact Us
 
 
diarysearch

Latest Trading Diary


Link for this issue: http://tradingdiary.incrediblecharts.com/2014-07-23-markets-forex.php
 


BHP fuels ASX 200 surge

By Colin Twiggs
July 23rd, 2014 5:00 a.m. EDT (7:00 p.m. AEST)

These extracts from my trading diary are for educational purposes. Any advice contained therein is provided for the general information of readers and does not have regard to any particular person's investment objectives, financial situation or needs and must not be construed as advice to buy, sell, hold or otherwise deal with any securities or other investments. Accordingly, no reader should act on the basis of any information contained therein without first having consulted a suitably qualified financial advisor. Full terms and conditions can be found at Terms of Use.


A surge in production from miner BHP Billiton — shipping 223 million tonnes in FY 2014 against earlier projections of 207 million tonnes — helped the ASX 200 break through resistance at 5550/5560 today. Expect retracement to test support at 5550 and the rising trendline. Respect would confirm a medium-term target of 5700*.

ASX 200

* Target calculation: 5550 + ( 5550 - 5400 ) = 5700

ASX 200 VIX below 10 continues to indicate a bull market.

ASX 200

The Australian Dollar responded to the influx of international buyers, breaking resistance at $0.94. Follow-through above $0.945 would confirm a rally to $0.97. RBA intervention has so far proved ineffectual, but reversal below $0.94 would warn of a test of $0.92.

AUDUSD

More....

DAX warns of correction

Jon Cunliffe: The role of the leverage ratio...

ASX 200 suggests breakout

Sleeping tigers: Hang Seng and Straits Times threaten breakout

To sell or not to sell?

S&P 500 pregnant pause

Flight MH17: The smoking gun

MH17 is the third plane this week shot down over Ukraine under mysterious circumstances - Vox

Malaysia Airlines MH17 crash: Deleted posts suggest Ukraine rebels downed jet in error

What We Know So Far About the Passenger Jet Shot Down in Ukraine

ASX encounters resistance

The world's lightest sports car



Reason and Ignorance, the opposites of each other, influence the great bulk of mankind. If either of these can be rendered sufficiently extensive in a country, the machinery of Government goes easily on. Reason obeys itself; and Ignorance submits to whatever is dictated to it.

~ Thomas Paine, The Rights of Man

How Good Is Your Market Analysis?
Compare our market views.





The weekly Trading Diary offers fundamental analysis of the
economy and technical analysis of major market indices,
gold, crude oil and forex.
The monthly What's New newsletter covers new articles
on Trading and the Economy, as well as new software updates.


Visit us on:

30-Day Free Trial

Incredible Charts Pro 6
Free Download
Windows  Mac  Linux

My Account

My Account Login

What's New


 
Top of Page