Australian Chart Review – 29 November – Bulls Queueing After Euro/US Gains

Global equity markets were certainly feeling very robust overnight which should provide a good local lead. Keep in mind that the gains we saw here yesterday were solid and quite pre-emptive so the session today may not be as solid as was seen in some of the major offshore markets. The one concern that I took out of trade last night was that the yields on a number of bonds around the Euro region cooled only slightly which shows the exuberance was not as wide-spread as the equity markets may have pointed to.

In other news we are running a free live webinar on December 1 at 11:15 AM Sydney time to cover the Retail Sales data and any trading opportunities associated with it – if you are interested simply register your details at http://www.cmcmarkets.com.au/education/events

Below you can find today’s chart review for Australian shares:

As always if you would like us to look at some specific charts then please let me know in the comments section and I will post them in the following review.
All the best
DL.

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