Just having a look at BHP weekly chart because it is one that I follow on my blog as a practical exercise for interest sake.
It seems that China has had a boost from the ECB QE so therefore the ASX has had a boost. The Chinese manufacturing figures were better than expected if you can believe it. I was fully expecting BHP to test the long term weekly support at $22.00 but it could be possible to see a test of the resistance that was crossed late last year.
The ASX daily cash chart here below is testing the resistance so we need to see if it crosses up through that or if it is rejected in the week ahead.
The Hang Seng daily cash was quite strong last week. It broke out through the strong resistance after rebounding off the kumo.
No comments:
Post a Comment