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...
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.
