Normally I agree with you Tomboy but I'm not so sure about today. The AUD$ went higher in the afternoon, which translates into relative confidence in the Aussie market and almost by de facto, resources. I have far greater confidence in currency traders over investment analysts that they know what is going on, as even a fraction of a percentage point is worth millions of dollars to them, so I tend to use the AUD/USD figures as my tea leaves of choice.
I know the AUD didn't go up that much today, but it did go up. Usually if there is a macro-level event which drives the resource sector down, you will see a positive correlation with the AUD. Anyway I know as much as you guys do, probably much less, but that's what the leaves are telling me.
FMG Technical Analysis, page-6811
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Last
$18.29 |
Change
0.150(0.83%) |
Mkt cap ! $56.31B | |||
| Open | High | Low | Value | Volume |
| $18.14 | $18.38 | $18.02 | $164.0M | 9.002M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 10275 | $18.26 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.30 | 2897 | 2 |
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| FMG (ASX) Chart |