Cable (British Pound) GBPUSD

Cable is still within the trading range and a break to the lower side of this trading range would target the 1.5200 level easily over the coming weeks with an eventual move towards the 1.4800 area. The level of support is very strong and would expect that it wouldn't break to the bottom of the channel the first time

Westfield Gartley Pattern

Here's the potential Gartley Pattern on Westfield WDC.AX. Looks very good considering the market is down strongly in the last couple of days

Woolworths possible bounce in the stock

We have a three touch trendline going on at the moment in Woolworths and would be very surprised if we don't see a nice bounce from these levels in the stock. Stock code is WOW on the Australian Stock Exchange

Obviously great minds think alike we posted after discussion almost on top of each other

Thought I would put a better diagram up for all to see with a the trendline in this time.

 

Still think WOW is a good retracement trade in the making especially since now we have the makings of a Doji today. My logic is simple here this is a case of panic and the news wasn't that bad at all/

Carnarvon Petroleum

Analysis indicates that a potential turning point is possible in the stock today

Liquid Natural Gas, Dollar Index and Brambles

Bramble Industries have bounced off some nice support levels today according to the fibs. I would be looking for some decent moves over the coming months back towards the $7.80 levels. Break in the trendline and higher highs and lower lows.

Dollar Index has definately turned the corner, and would be looking for the Us Dollar to strengthen over the coming month or so. Something that could change the dynamics in a lot of other markets.

Liquidified Natural Gas LNG is a commodity that I think will become more and more important over the coming months and years. The chart is indicating that the commodity has turned the corner and we should be looking for nicely increasing prices going forward. As this commodity becomes more and more important to the developing world due to its cleaner burning properties, the demand for it should increase expodentially.