This index has nowhere to go but up. The uptrend line which served as a support line and a horizontal support line are shown in the chart. These two lines and the price action that will take place near these lines are important for us to know where the market is going and the right time to trade. We know that the market is going up but we do not want to buy at a...
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...
The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following:
The ASX200 declined in last week's sell off towards to KUMO.
So the first think in mind is the KUMO and EMA200 Support. MACD is bearish and RSI too.
We have no special candlestick pattern except the long red candlestick of -1.34% like a week before. The...
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 but it declined in last Friday's sell off towards to 0.5 of Fib.
So the first think in mind is the case of correction ending at 0.5 of Fib or not. MACD is bullish above the zero line and RSI too but both...
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...
The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following:
The ASX200 index has made a bullish reaction exactly above the KUMO cloud last week. This is a new effort for uptrend between 5374 and 5523 that index consolidates from April 2014 until now. The daily diagram shows bullish trend. On the other hand the 5536.70...
The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following:
The ASX200 index has made a short term bullish development above the KUMO cloud last week. Now the resistance has been broken. The daily diagram shows bullish trend. On the other hand the 5536.70 resistance level has tested 3 times before.
So the first...
The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following:
The ASX200 index has made consolidations into the KUMO cloud last week. Now the resistance line has met the SPAN A of KUMO (green line) and both can be strong resistance or a new support if the trend is going to change. The weekly diagram shows neutral...
Australia stands at value on the weekly chart. Everytime Australia draws a divergence and comes back at its value zone, it's time to buy. Look at the weekly here :
The daily has drawn two hammers at a support zone. This is a very simple idea, a trade for a few days.
I have a buy limit order at 5410
If you see the "Aussie map", linked below, gives a more rounded picture of the local market at the time being.
Stocks are currently in confluence area that gives the shorts better probabilities for a possible correction.
Momentum divergence can been seen from miles away and a closing below the up trending arc line will have the sound of a bottle opened,...
Currently in a bearish trend. As more negative data comes out from China we should see that continue. I follow the Australian markets closely (I live in Melbourne)... I feel ASX sentiment is negative. Downwards momentum is also increasing.
There isn't much I can add. All the stock market indexes are down. Of the markets I follow, Italy and Australia have been holding during this world panic the best. Still, the bearish signals are obvious, Australia making a double top with false breakout and divergence!
Situation looking good all around the Globe, ECB is done, NFP tommorow and let's hope that will push stocks higher.
Regarding Australia, which is a correlated market with Europe and US, I see a nice long.
All explanations are on the chart, watch carefully the candlesticks when corrections ended. The bounce today invalidated a H&S, which means bears lost steam.
The australian index formed a doji at a previous resistence. RSI has a slight divergence, but i consider it just a rejection from a resistence. Support at the blue line and at the trendlines. I don't see a trend reverseal, but at least a consolidation is due here before going over the previous high. Stop loss over 5250, tp 5160, 5100, 5050
