#ASX200 has tried numerous times to break and hold above the $7,500-7,600 level, with no success.
This resistance zone has shown to be resilient, but these levels tend to eventually be broken.
Will be watching key economic data over the coming weeks to see if there is anything strong enough to send price through this level.
Wars are inflationary. so expect interest
rates to keep rising in 2024 (even tho they are negative
in real terms)
higher rates means lower share prices.
lets see how the central planners react to the war
and the goal is always to inflate asset prices but the problem
now is the inflation can not be hidden by cheap asian
labour anymore.
The rise of Asia means...
ASX200 - 24h expiry
We are trading at overbought extremes.
A Doji style candle has been posted from the base.
Our overall sentiment remains bullish looking for higher levels.
This is positive for sentiment and the uptrend has potential to return.
Preferred trade is to buy on dips.
We look to Buy at 7578 (stop at 7528)
Our profit targets will be 7698 and...
First thing to note is that we have a bearish breakout below the ascending trendline on the 1hour timeframe. Additional RSI is suggesting selling pressure with the bearish divergence.
== Game Plan ==
Wait for a pullback as outlined on the chart to enter a sell targeting a 3:1 risk to reward.
Most major markets have been breaking All-Time-Highs.
Momentum is still strongly bullish.
Currently in a Bullish Outbreak, occurring after two same-sized retracements (represented by congruent grey rectangles).
No indication of reversal, expecting price to continue hitting new highs.
Preparing for Long positions after appropriate candlestick close.
Keep an...
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the...
CAPITALCOM:AU200 chart mapping/analysis.
ASX grinding higher into EOY, benefitting from relative strength in global commodities & precious metals.
Trading scenarios into EOY:
Continued commodity strength + US bullish momentum = rally into 23.6% Fib / ascending trend-line (light blue dotted) confluence zone.
Rally would coincide with re-test of bearish...
ASXAUD was in bullish trend and was making HH and HL. Divergence on RSI appeared on hourly chart. Rising wedge formation was formed. Now instrument give breakout of the Rising Wedge pattern downside. Most probably, trend reversal is expected.
Due to prevailing market structure bearish continuation can be expected from AUS200 provided 7320 is not violated.
Hunting bearish entry structures to follow price short.
the price came from weekly demand zone and in daily time frame is above 20 and 50 moving average, in 30 timeframe broken market structure and formed a new uptrend. and i think it will reach 7650 on the long run.
