S&P500 up on Friday. Trump and the Republicans are boasting about a great economy yet the market is betting on a rate cut.
Iron ore bounced off an uptrend line but still 7% down from recent high. Vale in Brazil coming back online.
Oil hovering 6% down from recent high.
Gold flat but near highs.
Lots of news due this week so keep an eye on it.
We’ve broken out of horizontal ranges so I’m going to build a long position on the dips, hoping this uptrend channel lasts a while. Here's the IG Markets Cash 1 hour chart:
Monday 29 July 2019
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Last
7,931.1 |
Change
69.900(0.89%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,861.2 | 7,938.3 | 7,861.2 |
| XJO (ASX) Chart |