Market wrap ASX US NASDAQ CHINA Natural Gas Iron Ore Brent Crude

Market wrap ASX US NASDAQ CHINA Natural Gas Iron Ore Brent Crude
Welcome to Pete’s investing updates
In this special edition I'll be covering a brief overview of world sharemarkets as well as commodities and how they are performing

Market wrap - focus on the ASX, US & NASDAQ, CHINA and some commodities Natural Gas, Iron Ore & Brent Crude. We look at the stock charts of these indices and commodities and show the table of results if you were to trade these using CFDs, covering our trading strategy.

Equities
The ASX, US500 and NASDAQ all retraced back to their SMA200 lines and kept below the SMA20 trend lines.
Watch closely they don't break below the SMA200.
This will likely depend on China's Evergrande saga and if the developer is bailed out by the Chinese Communist Party. But as we said in past videos, the CCP will likely force Chinese banks bail out Evergrande. We are just following closely how the Chinese stock market responds to their real estate market.

China chart shows a slight advance touching the downward trend line.
We said it may well contunue boucing in this contracting triangular trend lines.
Signs from the Evergrande news shows a collapse is imminent and if that occurs we will see price initially drop to the lower trend line and possibly drop further into freefall.

This also brings us to the commodities charts

Commodities
- Natural Gas continues to rise but has recently retraced back to the SMA20 trendline.

Brent Crude also has advanced to new highs over the past 2 years and approaching key resistance lines at the 8650 levels.

Iron ore on the other hand has dropped and approaching 580 support line but has risen slightly in the past few days.

Iron Ore is a key export for Australia to China, who have suppressed imports from Australia as a result of diplomatic hostilities in recent times.

Supporting videos:
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Money Management:
https://youtu.be/nvvcldeeZS4

Average Down Do's and Don'ts
https://youtu.be/SZbh2Me4kq0

Simple Trading Strategy with CCI and Avg Down technique
https://youtu.be/w35_YtV4YQU

Simple trading strategy https://youtu.be/ibVzRwCX-3Q
Average Down Strategy https://youtu.be/RFCb5S78D8o

#marketwrap #indices #shares #commodities