d.vezeris
Long

S&P/ASX 200 Index Daily (17.08.2014) Tribute to EMA

ASX:XJO   S&P/ASX 200
118 0 0
This week we will see the EMA (50,100,200) and MACD , RSI for various diagrams.
The S&P/ASX 200 Index ( STI             ) Daily Diagram Technical Analysis Training shows the following:

The ASX200             index has made a correction decline and then (last week) it reacted on EMA 100. Last week it crossed EMA 50. ASX 200             is on a bull market because EMA 50 is above EMA 100 that is above EMA 200. The EMA 50 crossed EMA 100 & EMA 200 and EMA 100 crossed EMA 200 too.

MACD is ready to give a bull sign above the zero line. RSI=56.

Next target is the 1.618 of fib @ 5701. Long for it. Stop loss under the EMA 50.
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