Sunset Strip | Aussie market worked hard to limit further downside and delivered a mid-range negative day

Mathan Somasundaram

Deep Data Analytics

Sunset Strip | Aussie market worked hard to limit further downside and delivered a mid-range negative day. The commodity market now looking at 4 commodities on a daily basis to set the market trend while our view on them are (1) Gold - BUY (2) Iron Ore - HOLD (3) Oil - Sell (4) Copper - Sell. We warned clients with short term perspective to take profit yesterday with macro and technical indicators moving into negative territory. ECB gets technical green light for QE while the question remains on how far will they go? Given the repetitive use of the slogan whatever it takes, the expectations are high. US reporting season needs to show strength or we expect US markets to roll with the main indices have moved below 50 day MA and now sitting on 100 day MA on technical basis. Japan and China remain a mystery between structural change, growth and stimulus. Domestic policy makers are talking more budget cuts as they see further downgrades on falling oil prices. (VIEW LINK)


Mathan Somasundaram
Founder & CEO
Deep Data Analytics

Over 25 years’ experience in the finance/tech industry. Mathan has worked extensively in all parts of the finance sector (i.e. County NatWest, Citi, LIM, Southern Cross, Bell Potter, Baillieu Holst and Blue Ocean Equities). Currently Founder and...

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

Comments

Sign In or Join Free to comment