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I am going to stray from the recent fundamental path to have a quick look at the local market’s performance over the last few weeks and note an important cycle which has been occurring.
We need Oil in increasing quantities, but because it is a 'dirty product' to handle, no-one wants to build refineries any more.
Pivot points are an indicator often used by floor traders or day traders as a very quick and easy way to calculate resistance and support levels. As with many things in life, its funny how well many basic approaches work.
Since spiking to a 26-year high of $732 an ounce on May 12 2006, Gold has sold off strongly to shed approximately 25% in value, to post a low of $546.40 on June 14 2006.
Price to Book (P/B) value is the ratio of a company’s share price over its book value of equity. The share price is reported every minute of every trading day by the exchange, and we are all more than familiar with that!
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