Notes from today:
- Whole market generally up so this is not a "win" by Boral
- Lack of negative USA news is not a coincidence and good reminder how things work now
- USA markets are closed tomorrow so we have 1 more day clear run before the negative news restarts.
- Materials all up generally - James hardie, adelaide. James hardie matched boral on % rise interestingly
On the Boral chart a few interesting patterns / repetitions to mention
- Upward trend forming (highlighted green)
Something really interesting to show you guys today.
Notice the movement pattern last 1 week (Friday 15 May - Today) almost replica of Friday 24 April - Friday 1 May...
Look at the price movement, the technical indicators. All similar for an entire week.
Red arrows down are the starting points. Just look and compare all the technical indicators one by 1. Almost all identical.
As already mentioned by analysts the market seems to be just looping / repeating itself until a clear direction is justified.
So this isn't a crazy thing to happen but still very interesting to see such a clear pattern and LOOP of the pattern.
I assume another increase tomorrow and frankly would be a disappointment if it didn't.
But Wednesday will be the interesting day to watch (US markets resume etc night before) and the risk of a drop..
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