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Why my trading's going back to basics
Joe Neighbour, trading analyst from Central Markets, is going back to basics and focusing his Friday trade on miners. He’s looking to buy the basic resources ETF on the Euro Stoxx 600 (EXV6). He says the UK market broke higher on Thursday and looks set to retest the highs we saw in May.
Basic resources have lagged behind in recent months but a number of them now look to have put bottoms in place and the near term outlook is positive. This, says Joe, is backed up by recent robust data from around the world.
Joe says we’ve seen a break in trend and the Relative Strength Index is sitting around 56 so we could easily see some more upside in the short term. Here he outlines is trading strategy.
01:22 minutes
Tags: basic resources, basics, central markets, etf, euro stoxx 600, eurostoxx600, exv6, ftse, highs, joe, joe neighbour, miners, mining sector, mining stocks, neighoubr, relative strength index, rsi, saxo bank, saxo tv, saxobank, saxotv, strategy, traders, tradingfloor.com, uk, video