d.vezeris
Long

S&P/ASX 200 Daily (20.07.2014) Technical Analysis Training

ASX:XJO   S&P/ASX 200
89 0 0
The ASX 200             Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following:

The ASX200             extended the uptrend movement last week. This is the 4th time that ASX200             test 5524 and it closed at higher high last Friday.

So the first think in mind is 1.618 of fib as next target. MACD is bullish above the zero line and RSI too.

We have no special candlestick pattern ( hammer but on uptrend). The index is above the KUMO and above the Kijun Sen (blue line) and Tenkan Sen (green line) too.

There is no special pattern except the 4 tops and ascending trend. The fib from 5374.92 to 5524.21 shows target levels.

Long. Stop loss under support line (5500).
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