daytrade diaries ... january 5 , page-18

Morning All,

Well a very positive lead we have out from the US overnight. I posted last night that the AUD/USD was at a fairly interesting point whereby the neckline was broken back on the 17th December, however now it was been retested @ 90c.

Looking at it this morning, it is now trading @ 91.30 which means it has clearly broken back through! This can only be bullish IMHO given our market is heavily reliant on the commodity prices..




I also think the short term outlook for gold is bullish. Last night there was a nice indictor when trading @ around 1100 to 1105. Now trading @ 1120, which could have provided some nice returns. I suspect we will see this move back up towards the 1160 mark short term.



As for stocks to watch, I think it would be probably better to list the stocks not to watch. I suspect we will see a strong gap up at the open across the board.

Here are a few charts

Sundance Resources (SDL) (2 Year Weekly breakout from yesterday morning..so didnt show the 16c close)



Sundance Resources (SDL)



NRW HOLDINGS LIMITED (NWH)



ATLAS IRON (AGO)



Also thought it would be worth throwing in the FMG chart from yesterday morning. Held the break well yesterday, and I suspect it will continue up today towards the next reistance @ $4.75.

Fortescue Metals (FMG)



Good luck today all

Regards
Kevi