RBA rate decision later today.
After an hour's trading this morning, XJO has held in a narrow range and is up about +0.25%. The range was set in the first thirty minutes of trading: high 7440.3, low 7410.4. A breakout of that range should see further rises or falls - depending on direction.
Best sectors are in the resources: Materials +1.44%, Energy +0.91%.
Overnight in the U.S., major indices were up modestly. Dow Jones +0.29%, SP500 +0.15%, Nasdaq +0.21%.
Chart for the SP500:
SP500 remains in its long-term up-trend, but divergences on indicators suggest a pull-back is not far away.
Stay with the trend until clear weakness is seen in the chart.
Commities: Energy +0.86%. Base Metals +2.51%. Gold was up +0.27% but showed intra-day selling. Gold remains in a short-term down-trend.
From an Australian perspective, those good Energy and Base Metals are driving the Oz market today.
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