One chart that caught my eye PB is XMD....on a monthly. Nice...

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CaptainGrumpy

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15/05/18

08:14

Post #: 33092677
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Originally posted by paddington bear ↑

Wall Street gapped higher on the open and then spent the rest of the day coming back to fill the gap. I was looking for a correction early this week and with everything finishing well off the high of the day, looks like this should take place.

Watching currencies very closely – US dollar finished off its earlier lows. But the Kiwi was again the interesting cross – falling sharply. It has been leading the moves for some time. Don’t know why, I’m just a Simple Little Chartist! I could almost make the argument that the Australian dollar is close to completing a head and shoulders bottom with a double bottom in the yen. As mentioned yesterday, I am a bit uneasy about the currencies at the moment so watching closely.

Energy section all nicely higher including natural gas – in fact for the first time in many moons, natural gas looks to be the strongest in the whole sector. Can’t ignore that.

And then moving on to precious metals, gold and silver both lower but – drum roll – palladium finished slightly better. This is very encouraging.

So lots rolling along just under the surface. As I said yesterday, interesting week coming up in the markets – things might be quiet but that is usually when we get surprises.

Australia finished higher again but, as mentioned yesterday, the blessed XJO is still stuck on the midline of a fork from the February low on the hourly chart. It has now been backwards and forwards eleven times across this line during the last eight days.

Still very quiet in the bottom end of the market but I felt that there was a bit of buying in some of the beaten down stocks yesterday. I was a bit encouraged by this little hint of interest. See if it carries through today.

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One chart that caught my eye PB is XMD....on a monthly. Nice high to take out.

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One chart that caught my eye PB is XMD....on a monthly. Nice...

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

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One chart that caught my eye PB is XMD....on a monthly. Nice...

Top Stories

Larvotto identifies new exploration target at NSW's Hillgrove, boosting shares by nearly 20%

Sun Silver gets that drill to thrill feeling from high grade hits at Maverick Spring

Wealth Within weighs in on shock 4% inflation read – and stocks that could survive the gloom

ChemX Materials kicks off first stage works at WA high purity alumina pilot

Microcap Wrap: 5 explorers with news out today

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Ava Risk Group expands US presence with A$0.7M Substation Deal

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