Australian and American markets remain in the Doldrums.
XJO - ASX200
XJO was up yesterday, +0.32%, but it was a narrow range day sitting at the 200-Day MA.
ASX is closed on Monday for the King's Birthday, so we'll have to wait till Tuesday to see how this resolves.
At this stage the chart is bearish but holding at the 200-Day MA - that's a positive.
Overnight in the U.S.
SP500.
On Friday night, SP500 rose above a major horizontal resistance level, but then said, "Nuh". Intra-day selling saw the index pull-back to just below resistance. Such action at a major resistance level usually indicates more down-side. A likely target is the 30-Day MA - that's the blue dotted line, which is co-incident with the Base Line of the Ichimoku system.
Commodities.
Commodities Index -0.61%. Energy -0.67%. Base Metals -0.55%. Agriculture -0.24%. Gold -0.27%.
In New York, BHP -0.58%. Rio flat -0.05%.
Our market will have to digest Monday's stock market news before re-opening on Tuesday.
No comments:
Post a Comment