Australian shares face a cautious start after surprisingly weak U.S. jobs growth in May spooked Wall Street on Friday and sent the U.S. dollar down. However mining stocks have helped boost the market, as base metals and gold prices rose against the lower dollar. Over the weekend, gold prices jumped around 2.7% following the worse-than-expected US jobs report, and iron ore has soared 3.9% in welcome news for top miners. On the hourly chart, the Australian benchmark (currently at 5363.40) continues to gain without any hesitation. ADX is rising to 33.62, suggesting that the uptrend is overwhelming. The stochastic shows the index is hovering in the overbought zone. However both %K and %D lines have not yet turned down, indicating that the selling force has not taken over yet; a further rise is thus expected.
Buy Digital Call Option from 5344.05 to 5376.63 valid until June 10, 2016
The website/brand www.optionbanque.com is jointly operated by Capital Street BancClear Corporation Limited(SVG) and Capital Street Intermarkets Limited(MU). The services provided by Option Banque are provided by the two companies jointly, and all securities trading services offered by Option Banque are offered via the full services securities dealer licence Number C112010690 issued by the FSC Mauritius.