Charlie's Charts 12th July 2017

The local market is trading at the bottom of the recent trading range this morning down around 40 points to 5688.

The price of gold looks to have found temporary support around the $1200 level.

The price of silver has already broken last December lows and could be a sign of weaker gold prices ahead.

Syrah Resources has gained some traction on the daily chart.

Syrah Resources on a weekly timeframe shows price coming into a resistance zone with some higher price targets beyond that.

Fortescue Metals has formed an interesting ABC pattern which could warrant a possible trade.

Fisher and Paykel Health could be consolidating the recent move up.

Pacific Current looks to be making a classic pullback to the breakout level and a possible trade setup.

Seven West Media has broken the downtrend line and could be on the way up after making a series of lows.

Platinum Asset Management has been rising and broken through a down trend line.

Table

Disclaimer: The commentary and trading positions taken are for educational purposes only and are not an invitation to trade. Trading is risky and individuals should seek Professional counsel before making any financial decisions. Many thanks to Incredible Charts.com software for most of the charts used in the column. Monitor, measure, manage and maximise…Cheers Charlie.