Technical market analysts at Barclays are anticipating more weakness in store for the price of gold, while remaining bullish into 2011.
The TechWizard believes gold has now resumed its uptrend.
Technical analysts at Barclays Caital have identified some cautionary signals in price charts for both gold and platinum.
The TechWizard believes this could be the week of a technically important break in the USD Index, with positive ramifications for AUD/USD.
RBS Morgans remains positive on the outlook for shares in biotech Acrux.
The TechWizard believes AUD/USD is poised to reach parity anytime soon now.
Despite Wednesday’s price action, Barclays’ technical analysts believe there are reasons to believe copper is due for a larger correction.
The Australian share market seems to be forming a diamond top on price charts, the Wizard warns. This would be a bearish signal.
The TechWizard reports the current rally is likely to carry gold to or above US$1500/oz, but it won’t go via one straight line.
The technical analysts at Barclays Capital suggest oil prices may struggle shorter-term, though medium-term further gains are still expected.