CBA - Commonwealth BANK

Todays chart analysis is CBA

SPECIAL REPORT - Crude Oil

We start this week with a special report on crude oil. This could be one of the most important reports you will read this year as oil affects all our lives profoundly. Chart chat analysis will give you the tools to make informed investment decisions that could impact profoundly on your portfolio in the future.
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MDT - Macquarie DDT Trust (ASX)

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MDT retraced 61.8% Fibonacci onto good support (blue line) and has rallied with pullback onto compression of Multiple MA suggesting a decent move up is due. A break of $1.30 would project a target cluster of $1.42 with upper limit around $1.50.

PEM - Perilya Limited (ASX)

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PEM having retraced 61.8% Fibonacci, rallied to find support above the 200 DMA (blue line) following a two wave correction (red zigzag). A break of $4.40 would signify that PEM has completed its larger 4th wave correction and will start its 5th wave move up to our long term target of $7.00 - $8.00. A correction can be expected in the $5.00 - $5.50 zone before continuing higher.

BUY - Bounty Oil and Gas (ASX)

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BUY has retraced to consolidate above the important 200 DMA setting up nicely for a swing high. With compression of the multiple MA suggesting a break of $0.057 will produced a quick move up to resistance at $0.075 - $0.08

SBL - Signature Brands (ASX)

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SBL has traded in a tight consolidation range along the 2oo DMA with increasing volume (green arrow). Couple this with compression of the multiple MA and a break of $0.042 a projected target of around $.0115 is possible.

APA - APA Group (ASX)

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APA has consolidated in a tight trading range for 6 months (bold) with rising lows (arrows) forming a good base pattern from which to launch a move higher. A break of $4.36 supported by convergence of multiple MA would project a target range of $5.50 - $5.65.

BSG - Bolnisi Gold (ASX)

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BSG is sitting hard on the ascending trend line (blue) and 200 DMA support level. With the MACD and Stochastics in a bearish relationship a break of $2.71 would project a target of $2.44.

JRV - Jervois Mining (ASX)

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JRV is trading above the 20 and 50 DMA resistance level. A break of $0.031 would project a "C" wave extension of around $0.06.

TNG - Tennant Creek Gold (ASX)

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TNG has traded above 3 months of consolidation and resistance (bold). A break of $0.515 should project a swing high target of $0.77

ADS - ADV Group Ltd (ASX)

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ADS has consolidated for 5 months (bold) supported by Stochastics divergence (blue arrow) creating a good base for a swing high. A break of $0.20 would project a target of $0.39

GUD - G.U.D. (ASX)

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GUD for the Elliott Wave converts is starting a C wave of a larger C wave or ZZ. A break of $8.61 would project a swing high target of $9.30 - $9.50 for a possible 80% ROI using CFD.

RIV - Riversdale Mining (ASX)

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RIV has consolidated for 3 months forming a good base pattern to lauch a rally. With the MACD and Stochastics in a bullish relationship a break of $2.11 would project a target range of $2.50 - $2.60.

DDT - Datadot Technology (ASX)

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DDT broke its long term descending trendline (blue) and after a strong rally has consolidated on the 200 DMA support level. DDT looks to have still some way to go before a correction. A buy on a break of $0.395 could produce a rally up to the $0.48 - $0.51 zone

PYM - Pryme Oil & Gas (ASX)

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PYM has formed a large equilateral triangle and consolidated outside the descending trend line. A break of $0.625 would project a target of $1.00 to $1.20

TZN - Terramin Australia (ASX)

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TZN has established clear reversal divergence with the Stochastics (blue line). A buy at market around $2.05 would project a target of $2.55 plus.

ENE - Energy Developments (ASX)

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ENE is bouncing along the 200 DMA support level (dots) with divergence (blue line) indicating a rally is due on a break of $4.76 for a conservative target of $5.40.

BBI - Babcock & Brown Infrastructure (ASX)

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BBI has formed divergence and a bullish MACD /Stochastics relationship suggesting a swing high target of $1.20 on a break of $191 is now in play.

SRZ - Stellar Resources (ASX)

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SRZ has been consolidating along support (blue line) for 10 months. With the MACD and Stochastics now in a bullish relationship SRZ looks set for a good directional move on a break of $0.35 projecting a target of $0.49 - $0.60

BGD - Boulder Steel (ASX)

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BGD having been sold off heavily has rallied back to its long term descending trend line (blue) and pulled back onto the 20 DMA and 50% Fibonacci support level. With the MACD and Stochastics in a bullish relationship a break of $0.415 would project a swing high target of $0.65 - $0.74

LEG - Legend Mining (ASX)

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LEG retraced back onto the 61.8% Fibonacci and 200 DMA support and has now traded back over resistance (Green line). LEG is poised to swing high on a break of $0.074 for a possible target range of $0.105 - $0.125.

CST - Cellestis Limited - (ASX)

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CST having retraced 61.8% Fibonacci rallied and has consolidated above the descending channel. A break of $3.81 would project a swing high target of $4.49 - $4.80.

IRN - Indophil Resources (ASX)

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IRN has spent 8 months in a consolidation phase building pressure for a directional move. Having established a minor double bottom pattern (arrows), a break of descending resistance (blue line) of $0.79 would project a swing high target of $1.00.

ABB - ABB Grain Limited (ASX)

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A weekly chart shows ABB setting up for a swing high to new highs. With the MACD and Stochastics showing a bullish relationship in both the daily and weekly chart a break of $7.85 would project a target Fibonacci cluster of $8.40 - $8.72.

AUS - Auselect (ASX)

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Auselect Limited (AUS) is a recovery stock in the making with some potential power behind it. AUS has put in rising lows over the last 6 months (arrow) with significant build up in volume indicating renewed buyer interest (green arrows). Compression of the multiple moving averages (dots) suggesting a break of $1.255 is imminent and would project an initial target of around $1.39 - $1.45 meeting price resistance

FRE - Freshtel (ASX)

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FRE has consolidated in a tight range above the 200 DMA and 61.8% Fibonacci retracement level. A break of $0.71 would project a swing high target of $0.94 - $1.00.

CBA - Commonwealth Bank (ASX)

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Commonwealth Bank (CBA) has retraced 61.8% Fibonacci back onto good support and has since rallied to settle above the descending trendline. A break of $50.15 would project a swing high target of $54.35 - $55.90

QMT - QM Technologies (ASX)

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QMT has developed a nice consolidation and resistance platform from which to launch a good move. A break of $3.34 should project a price of $3.80 - $4.09.

NWS - News Corporation (ASX)

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News corporation (NWS) has retraced 61.8% Fibonacci onto good support (Blue line). With both the MACD and Stochastics crossing to give a buy signal in the oversold territory a break of $30.50 would project a target range of $33.70 - $34.60.

CSM - Consolidated Minerals (ASX)

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Consolidated Mineral (CSM) is climbing along its ascending trend line (blue) in a sideways fashion building towards a directional breakout move. The last weeks tight price consolidation has alerted Chart Chat that this is likely to happen very soon. A break of $2.36 would project a target of $2.72 - $2.95.

MLE - Macquarie Leisure (ASX)

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MLE has retraced back onto the 200 DMA and 50% Fibonacci support cluster. After a month of tight consolidation and convergence of the 20 - 50 DMA a break of $2.96 would project a swing high target of $3.45 - $3.70.

CRG - Crane Group Limited (ASX)

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CRG has developed divergence with the MACD (red line) considered a bearish reversal indicator in this case. A break of $16.08 would trigger a short entry for a 61.8% Fibonacci reversal back onto support and 50 DMA around $14.65.

WME - West Australian Metals (ASX)

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WME has formed a large equilateral triangle and is at a point where a directional move is imminent. Equilateral triangles can produce false breaks only to reverse direction quickly so any trade should be accompanied by good risk and money management. Recent trading activity suggest the likely breakout direction will be up on a break of $0.185 for an initial target of $0.25 and may trade well beyond this point longer term.

DNL - Discovery Nickel (ASX)

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DNL broke through resistance (blue line) only to retrace in a 'ABC" corrective wave onto the 50% Fibonacci and 200 DMA support cluster. With the MACD and Stochastics developing a bullish relationship it would suggest that the correction may have completed. A break of $0.26 would project a swing high target of $0.38.

RML - Rusina Mining (ASX)

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RML has retraced back onto support having broken through its descending trend (Blue line). With a lift in volume suggesting increased buyer support and a bullish MACD/Stochastics relationship, a break of $0.225 would project a target range of $0.27 - $0.29.

GLN - Gleneagle FPO (ASX)

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GLN looks to be readying itself for a test of the descending trendline. With the MACD and Stochastics in a bullish relationship and having traded back down onto support (blue line) a break of $0.225 would project a swing high through resistance to $0.285 - $0.31

ANN - Ansell Limited (ASX)

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ANN has broken to new highs (blue line) and retraced back onto the 20 -50 DMA support setting up a good buy entry on a break of $11.86 for a projected swing high target between $12.73 - $13.25. ANN has a possible higher target of $14.00 but in the current market conditions it pays not to be too ambitious. With CFD's there is good reward in at potential 7% gain.

GUN - Gunson Resources (ASX)

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GUN broke resistance (purple line) and has pulled back to set up for a 'C' wave extension through the descending trend line. A break of $0.32 would project a target of $0.36 - $0.38.

DYE - Dyesol Ltd (ASX)

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DYE is preparing to break free of its down trend and extend a 'C' wave on a break of $0.655 projecting a target around resistance (blue line) of $0.77 - $0.82

SGX - Sino Gold (ASX)

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SGX is maintaining its strong rising trend. Having broken through to new highs and retraced back onto support (blue line) SGX is set to extend its rally on a break of $7.47 to a target cluster of $8.49 and perhaps higher if gold continues its price appreciation.

PSD - Psivida Limited (ASX)

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Our previous post for KIM achieved 10% in 2 days confirming our analysis. This is another example of a potential quick 10% gain that technical analysis can deliver. PSD has a bullish MACD and Stochastic setup and is trading above the 50 DMA trend line. A break of $0.26 would project a quick move into resistance (blue lines) of $0.29 - $0.34.

KIM - Kimberley Diamond (ASX)

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This chart of KIM is an example demonstrating how analysis can deliver the potential for quick 10% return. KIM has broken its descending trend line and looks poised to break the price resistance level (green line) of $0.89 for a 'C' wave extension up into resistance and 200 DMA level of $1.00 to $1.07.

PMH - Pacific Magnesium (ASX)

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PMH has formed a classic Pennant formation considered a bullish chart pattern. A break of the descending trend line of $0.53 would project a pattern target of around $0.78.

CRT - Consolidated Rutile (ASX)

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CRT has consolidated for several months (bold) developing a good platform to support a move higher. Having broken resistance and retraced gives us a good entry signal to go long on a break of $0.69 for a possible target of $0.74

HEG - Hill End FPO (ASX)

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HEG has developed a saucer bottom considered a strong reversal pattern. A break of the recent period of consolidation and resistance at $0.155 would project a price target range of $0.20 - $0.23.

BSG - Bolnisi Gold (ASX)

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BSG having broken through its ascending trend line appears to have completed its correction by trading above the recent descending trend line. BSG tends to recover strongly off the 200 DMA (illustrated by the dots) and with the MACD and Stochastic in a bullish relationship looks set to trade higher on a break of $3.04 for a possible target range of $3.75 - $4.07.

PSH - Penrice FPO (ASX)

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PSH is reading itself to swing high into the $2.26 - $2.49 range. With the MACD and Stochastics in a bullish relationship a break of price resistance at $2.00 should produce a solid directional move.

OEL - Ottoman Energy Lts (ASX)

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OEL having consolidated for 5 months in a tight range (bold) has formed a good base from which to launch a solid rally on a break of resistance at $0.215. A consistent pick up in volume suggest renewed buyer interest in this stock which should support a price rise into the $0.30 _ $0.35 range for this move.

ADN - Adelaide Resources (ASX)

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ADN has consolidated along price support (blue line) and the 200 DMA. With the MACD and Stochastics in a bullish relationship a swing high breaking the descending trend line can be anticipated. A descending triangle pattern such as the one illustrated is generally considered bearish. However this i believe is an example where such a pattern will fail. A trade above the $0.515 level would trigger an entry for a possible swing high target of $0.65 - $0.69.

TRY - Troy Resources (ASX)

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TRY is setting up for a buy with compression of multiple moving averages and a period of consolidation after a solid rally. A break of resistance at $2.81 would project a target zone of $3.30 - $3.48.

ITE - I.T & E Limited (ASX)

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ITE weekly chart shows a saucer bottom has formed and has met resistance (blue line). With ITE in a strong uptrend a break of $0.20 and resistance would project a swing high target of $0.27 - $0.30.

AGC - Agincourt Resourses (ASX)

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AGC after a strong recovery rally has consolidated for 2 months (bold) setting up a good platform to support a swing equality leg into resistance at the $1.79 - $1.92 level. Convergence of multiple moving averages suggest a strong move is imminent on a break of $1.48.