ASX is approaching our first resistance at 6220.5 (61.8% Fibonacci extension, 50% Fibonacci retracemen, Horizontal swing high resistance) where a strong drop might occur below this level pushing price down to our major support at 6170.1 (100% Fibonacci extension, 61.8% Fibonacci retracement, Horizontal swing low support).
Stochastic is also approaching resistance...
After falls in the index in the last quarter of 2018, we have see a rally back into the sell zone(87.5% fib).
My target would be around the 5000 handle, which is nearthe 75% fib level on the monthly chart . This area is where the bulls should turn up,
as the index is in a very strong bullish trend on the monthly chart.
Hoje temos no Índice Australiano, uma estrutura Headn'Shoulders de livro!
De modo resumido temos:
- Longa tendência altista;
- Rotura de Sequência de máximos e mínimos;
-estrutura de Headn'Shoulders perfeita, com neckline em FlipZone;
- Possível rotura a 4 horas;
Os possíveis objetivos estão a boa distancia se bem que é provável encontrar alguma...
ASX200 is currently correcting to its local support off the back of an overextended bullish move and collapsing stochastics.
The most probable event is we see price retest local support, before a pause for consolidation and then a break lower towards major support.
We expect major support to hold for long entry, provided the world macro environment stays stable,...
In this video update, we take a look at the AUD200 index and how the price is benefitting off of AUD weakness.
Price smashed through recent support levels and looks to continue on its path higher, however, we have a significant
resistance level above which may prove tricky for the price to break. If we do see further upside, the market will likely
Short term bullish but long term still bearish as 50MA is below 200MA. Look for a bearish pinbar on 4hr or daily to go short here. If this level breaks price could move to 6200 and then back down or to previous all time highs. I prefer the downside case.
ASX is approaching our first resistance at 5927.6 (horizontal swing high resistance, 50% Fibonacci retracement ) where a strong drop might occur below this level pushing price down to our major support at 5694.0 (horizontal pullback support, 61.8% Fibonacci extension , 50% Fibonacci retracement .
Stochastic (89,5,3) is also approaching resistance where we might...
I am expecting current levels are suitable for sell and for short position. I am very pessimistic about the global stock markets, and thinking that this asset bubble will burst soon. So you need to protect yourself from coming crash.