Chart Watch 2009-02-11

RIO - RIO Tinto



As indicated in Chart Watch 2009-02-7, RIO Tinto had potential to break through short term resistance. Today RIO had a strong positive candle above this resistance on above average volume. Target $60, but may fall short in the pulse.

Making Lows

A range of stocks are either testing, or made new lows today. Included in this list are AMP, are ANZ and are WES.

AMP


ANZ


WES - Wesfarmers

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Chart Watch 2009-02-10

XAO - All Ordinaries



With a close +38.30 (+1.12%) yesterday, the All Ordinaries has closed on the November-February trend line. 50MA also resistance at this level with a break targeting 3700.

No lead from wall street over night with the DOW, NASDAQ and S&P 500 closing flat as investor wait for Washington to decide their stimulus package fate, like the Australian.

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