Talga Gold LTD (ASX) TA update (short term)

After touching all time high at 0.915 it pulled back and breached 1st support at 0.7 and subsequently it breached 2nd support at 0.6 support. On 20 Jun it was trading near the 3rd support around 0.52. We bought in at 0.53, the lowest it hit was around 0.515. Today, 28 Jun, it is touching the first resistance at 0.61, 2nd resistance is 0.7 and there is an intermediate resistance around 0.655.

Short term analysis (source : Poems Live Chart ) TA view for illustration purpose only.

Talga Gold LTD (ASX) TA update (short term)

After touching 0.6 support at 5 May 2017, it rebounded strongly to 0.8, then pull back and today it touches below 0.6 support.
Short term resistance/support to watch 0.7, 0.6 and 0.52

Short term analysis (source : Poems Historical Chart ) TA view for illustration purpose only.

Daniel Loh on Air 170601

Summary

US overnight dragged down by banks, about -2%, caused by profit warning. cautious advice to investors that invest in banks

Oil also dragged, drops about $2. Continue expecting trading range to be 44 -52, ie long on support, short on resistance
At current level at 48, he continue to have bearish view on oil and may trend down to revisit 44

Continue favour REITs

Shanghai index strong support 3000 - 3050, suggest to long around this range. Overall big range is 3000 - 3300

Source : Radio Capital 95.8 FM