ASX Shares Daily – 26th November

By Chris Becker

A relatively quiet day on Asian markets after a strong lead on Friday night fizzed out a little – the ASX200 was up 0.3% or just over 11 points – check out below for a full roundup below.

The Nikkei 225 had a good start and eventually was up half a percent as the Yen strengthened slightly, but still having a great run:

The Aussie dollar is having a small run and may have a go at 1.06 where there’s heavy resistance:

Gold (USD) has broken out above resistance with the 200 day moving average moving up too:

Australian Stocks

Utilities surprised today, up 1.4% mainly due to APA Group and DUET both having strong trends. The best in the ASX8 (the top four miners and banks) was Newcrest Mining (NCM) on the uptick in gold price – but it remains in a  downtrend:

 

As for market itself, having bounced off the closely watched 200 day moving average, its trying to get past the 50 day moving average on its way to hitting heavier resistance overhead at the April 2011 high at 4440 points:

 

 

This free daily update should be read alongside Live Trades articles, published every morning at Macro Investor, and placed in context with the longer trends and macro drivers within the overall technical picture,  where Former “Trading Week” readers will find it reborn as “Technicals“, published 8.30am each Monday morning at Macro Investor. Chris Becker is an investment strategist at Macro Investor, Australia’s leading independent investment newsletter covering stocks, trades, property and fixed interest.  A free 21-day trial is available at the site. You can follow Chris on Twitter.

Disclaimer: The content on this blog should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation, no matter how much it seems to make sense, to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The authors have no position in any company or advertiser reference unless explicitly specified. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult someone who claims to have a qualification before making any investment decisions.

Comments are closed.