Some charts of interest today

Morning all,

Still no real major moves in the US overnight, with a modest 21 point retreat. Even though we saw red, copper hit 5 month highs and most other base metals moved higher.

Below I have posted a few charts of Ausenco (AAX) to show you the significance of a breakout. The first showing when I noticed the break of resistance @ $2.50 or thereabouts.



Since then (only around 6 trading days) it has put on 54c to close at $3.03 yesterday. Below is an updated weekly chart also showing the breakout, along with the next level of resistance which isnt until $3.85. (It's worth noting the 200 day MA on the first chart @ around $3.50 as I think this might see some resistance also.

Anyway, here are a few more charts of interest.

Toro Energy (TOE)



Saracen Minerals (SAR)



Globe Metals (GBE)




Good luck today

Cheers
Kevi

Al's holiday rally..

A very solid night in the US last night, seeing a 145 point rally! What makes this rally important, is the close above one of the major resistance levels @ 10700 (or 1131 on the SPX).



I thought it might be also worth while to show you a chart I did a few weeks back on the XJO giving a target of around 4750. Will this be the top of the rally short term? I'm not so sure! Having said that, a small pull back and a higher low would be a perfect setup to head towards the 5000 level.



I havent had time to put together many charts, but here are a few which might be of interest.

Woodside Petroleum (WPL) - 3yr weekly.



Altona Mining (AOH)



Finally, Al is lucky enough to be away on holidays for the week. As much as its nice to see the market rally, its even nicer to be relaxing in the sunshine not even having to think about the market. Enjoy Al!

Cheers and good luck today

Kevi