The weekly chart here Not fantastically bullish, but it isn't bearish either.
On the daily chart, yesterday the impulse turned green after a double bottom. However, the entry was done way too late, because the long signal was on the 17th. Stop below yesterdays candle.
Three drives at support while STOCHASTIC in oversold territory crossing over. A good bullish signal for the coming days to weeks. Possible Target at the recent main static resistance 5420.
Long term trend: Up
Medium term trend: Up
Significant levels: 5370 (Horizontal Resistance), 5070 (Horizontal Support)
Though the price didn't literally touched the support line, we can see on the chart that the market rejected the support area. The rejection formed a Large Bullish bar yesterday. Even if this indicated that the market does not want to go down...
Long term trend: Up
Medium term trend: Up
Significant levels: 5370 (Horizontal Resistance), 5070 (Horizontal Support)
The pennant that formed was a failure. The price went down and broke the previous support level, which is now the resistance. Currently, as of writing, the price is rejecting the resistance. For this index, we still want to trade this on the Long...
I believe the S&P/ASX200 is set for a major setback. Especially if the index closes this week below 5475. Lets see how it goes, i will keep updating.
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Technician
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Trading Criteria:
1. Trades are...
Long term trend: Up
Medium term trend: Up
Significant levels: 5640 (Horizontal Resistance), 5370 (Horizontal Support)
This index has clearly gained its strength. The recent up move is so steep. Currently, the price is making a small consolidation area which indicates that the strong move up cannot be sustained for an extensive period of time. What we're looking...
This chart is a little confusing but I'm attempting to show two sets of evidence that build the case for a drop in the ASX200 of 160 points to the support of ~5368 as a minimum movement.
The first set of information includes the blue arrows and the black resistance line at 58 points above the zero line on the MACD signal chart and the green text boxes. We can see...
Long term trend: Up
Medium term trend: Up
Significant levels: 5640 (Horizontal Resistance), 5370 (Horizontal Support)
This index is back to its original trend which is up. Australian stocks are getting back its momentum. We are now bullish with this index. What we're trying to look for here is to see a retracement back to the 5370 level as this would be the best...
Long term trend: Up
Medium term trend: Down
Significant levels: 5370 (Horizontal Resistance), 5070 (Horizontal Support), Uptrend Support
This index is really down as of now. The support level held and the price is now making a move up. It's now recovering from the strong decline. As the sentiment here is currently down, I am Short with this index until Bullish...
The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following:
The ASX200 declined from the top of the uptrend channel and broke KUMO support as EMA 200 too.
So the first think in mind is the 1.618 of fib as a support or the 1 of fib as a resistance target. MACD is trying ti turn bullish and RSI reacts from the...
Long term trend: Up
Medium term trend: Down
Significant levels: 5560 (Horizontal Resistance), 5370 (Horizontal Support), Uptrend Support
This is the same chart as the previous analysis. As mentioned before, the trend here is up, but we would consider going Short if the retracement happen back to the support level which is currently forming. The current price is...
Long term trend: Up
Medium term trend: Up
Significant levels: 5560 (Horizontal Resistance), 5370 (Horizontal Support), Uptrend Support
Price, in the medium term, is still making higher lows which indicates that uptrend is still intact. However, just recently, the price breaks out below the Uptrend line which is a sign of Bearishness. Not only the trend line was...
The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following:
The ASX200 declined from the top of the uptrend channel for another time (4th time) and approach the KUMO as we said in previous post.
So the first think in mind is the case of the KUMO support. MACD and RSI both are bearish.
We have no special candlestick...
Continuation of 28/08/14 Analysis ---
This index is still in the uptrend. As previously mentioned, both lines above (uptrend and horizontal line) should serve as support, though it is better to trade at the uptrend support because it has a lower price. But what is important is how the price reacts in these two levels. As can be seen in the chart, the price...
The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following:
The ASX200 tried to breach the uptrend channel last week for 2nd time but it declined making a double local top exactly at the top level of the uptrend channel like before.
So the first think in mind is the case of the KUMO approaching correction like...
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 last Thursday making a local top exactly at the top level of the uptrend channel like before.
So the first think in mind is the case of the KUMO approaching correction like before. .
We...
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...
