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Another up and down week with the mixed bag due to geopolitical issues and reporting season expectations being met or not met as the case may be.

The XAO has gone nowhere over the past 2 weeks and it remains sitting at support. The weeks candle was a doji which signifies indecision (hardly surprising) and a possible change of trend (possibly a fall). The support level is a strong one so there is also reason to believe that will hold and prices might move up next week. My personal feeling is that we’ll see higher prices next week (subject to issues in Ukraine not worsening).

Gold seems to be making a revival with GLD up 2% for the week along with NCM who gained 7%. Both these charts are sitting just below significant resistance and a similar move up next week to close above resistance would suggest gold could be in for a run.

My Stocks to Watch basically broke even – thanks principally to NCM which picked up what the others lost. I’ve added BRB this week and while it is a bit of a ‘roughie’ it has the potential to do really well.

Good luck for the coming week.


Robert Norman

Phone: 0428 346 951

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