Index and Commodities Trading Week Beginning 25/09/2023
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Index and Commodities Trading Week Beginning 25/09/2023
- September 24, 2023
XJO WEEKLY Price structure: Overall, the view remains Bullish An expanding range to the downside with the test below the 7000 level finding buyers willing to lift the index back towards the 7070 midpoint level. Consolidation continues with the sellers unable to take the market lower and buyers not willing to take the market higher.
READ MOREIndex and Commodities Trading Week Beginning 11/09/2023
- September 10, 2023
XJO WEEKLY Price structure: Overall view remains Bullish Last week saw a higher low and higher high than the previous week; however, the solid close below the 7200 level is a further bearish signal with extended consolidation remaining in the overall technical view. With the closing value in the lower 20% of the overall range,
READ MOREIndex and Commodities Trading Week Beginning 25/09/2023
- September 3, 2023
XJO WEEKLY Price structure: Overall view remains Bullish The small range mentioned last week has become the market consolidation point, with last week posting a strong range low to high and, importantly, closing over the 7200 level, a very bullish signal for further gains. Although the closing price remains midway in the consolidation range of
READ MOREIndex and Commodities Trading Week Beginning 21/08/2023
- August 19, 2023
XJO WEEKLY Price structure: Remains Bullish A solid trading range lower without moving over the important 7370 level has set up the retest of the trendline. This week, only a trading range and next Friday’s close back over the 7200 level would confirm a breakout higher. This type of Weekly range is often a precursor
READ MOREIndex and Commodities Trading Week Beginning 14/08/2023
- August 13, 2023
XJO WEEKLY Price structure: Remains Bullish The small inside range reversal set last week, remains bullish for further gains. The low of the week. This week only a trading range over the 7370 level would confirm a breakout of the current consolidation. Should the Index move lower towards the 7200 level a bearish view would
READ MOREIndex and Commodities Trading Week Beginning 07/08/2023
- August 7, 2023
XJO WEEKLY Price structure: Bullish With Primary UP trend remaining in place. The Weekly view of the XJO now displays a reversal bar retesting the top pattern line. Last week we took the view a false break may be underway; this is now proven correct. This level, the chart remains positive for a resumption of
READ MOREIndex and Commodities Trading Week Beginning 31/07/2023
- July 30, 2023
XJO WEEKLY Price structure: Strong Bullish breakout, with Primary UP trend remaining in place. The current trendline has now been readjusted to reflect this significant reversal point. Last week’s reversal emanating from the 7370 mid-point level is a positive development for a continuing breakout towards Weekly resistance shown at 7565 points. Major support in this
READ MOREIndex and Commodities Trading Week Beginning 17/07/2023
- July 16, 2023
The Australian markets have staged a dramatic turnaround from again testing the 7000 point support level. This current rally has extended across all sectors with support from increasing commodity prices and improving investor sentiment with the outlook for interest rates potentially turning dovish. Silver and Gold look to be at the onset of a new
READ MOREIndex and Commodities Trading Week Beginning 10/07/2023
- July 9, 2023
A tough week for Australian equities with a strong sentiment change around the central banks’ interest rate policy. Markets reacted to the downside as global Central banks remained hawkish on strong job numbers. The Australian RBA has also kept a strong commitment to 1 or 2 rate rises before the end of 2023. Buyers stepped
READ MOREIndex and Commodities Trading Week Beginning 26/06/2023
- June 25, 2023
Last week the Energy sector weighed down the XJO Index, losing 4.4% as the larger energy plays lost ground on the declining Oil price. Global recession has again come to the top of investors concerns as central banks have indicated the increase in underlying cash rates has not ended with one or two rate rises
READ MOREIndex and Commodities Trading Week Beginning 12/06/2023
- June 11, 2023
Market technician’s view of charts that affect equities: China’s inflation remained close to zero in May, traders concerns remain on a falling spiral in prices and prompting the central bank to come out to downplay worries on the economic outlook. This uncertainty may keep markets subdued until the outlook is clarified against the current backdrop of rising interest
READ MOREIndex and Commodities Trading Week Beginning 05/06/2023
- June 4, 2023
Market technician’s view of charts that affect equities: With an agreement now in place on the US debt limit, Further concerns still remain around the US regional banks and the potential for failure as many remain on a high watch alert by the FDIC authorities. The underlying driver for higher prices remains the developing Artificial
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