A surge in production from miner BHP Billiton — shipping 223 million tonnes in FY 2014 against earlier projections of 207 million tonnes — helped the ASX 200 break through resistance at 5550/5560 today. Expect retracement to test support at 5550 and the rising trendline. Respect would confirm a medium-term target of 5700*.
* Target calculation: 5550 + ( 5550 – 5400 ) = 5700
ASX 200 VIX below 10 continues to indicate a bull market.
The Australian Dollar responded to the influx of international buyers, breaking resistance at $0.94. Follow-through above $0.945 would confirm a rally to $0.97. RBA intervention has so far proved ineffectual, but reversal below $0.94 would warn of a test of $0.92.
I’d like to have IBOV ( from Brazil) informations. Thank you