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Monday December 6th, 2010

Mon, Dec 6, 2010

ASX Commentary

Weekly Trend: Up
Daily Trend: Up
Daily Momentum: ___ Flat

A flat day on the market today with a tight trading range. A continued pause here will yield more discretionary trades with a few patterns in formation. As we stand the daily trend is still up so we’ll continue to look for long trades. The 4550 support zone on the XJO remains important and a break would most likely indicate further downside.

About the Author:

Nick Radge has over 25 years’ experience in the financial markets. He is Head of Research & Trading at The Chartist, manages money using active management strategies and consults to various financial planning, stock broking and accountancy firms. He can be found on Facebook, Google + and on Twitter.

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