With firm base metals and oil over recent sessions it suggests that the market is primed for a resource driven rally this week. Perhaps there is no absolute bottom, but the risks are now definitely to the upside on the equity market (from a short term trading perspective 1 -3 days).
-US reporting season over
-UK bank bailout commencing
-US bailout package implementation to commence
-Increase in risk appitete over the past week in currencies
-Clearly bottoming Shanghai Stockmarket
-Big figure non-farm payrolls already out.
-Think about it?!
(Short term trading view given)
With firm base metals and oil over recent sessions it suggests...
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Last
7,767.5 |
Change
7.900(0.10%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,759.6 | 7,819.0 | 7,754.9 |
| XJO (ASX) Chart |