The COVID-19 pandemic has spurred on a catastrophic 39% decline over 5 weeks in the ASX200 .
Right now we're seeing the beginning of a bullish retracement as negative sentiments start to ease globally.
But with most market crashes historically, nothing ever falls in a straight line. There are always retracements in a down market, otherwise known as dead cat...
After reaching all-time highs previously set in 2007, the ASX:XJO has formed a significant bearish candle on the monthly chart.
The bearish engulfing candle on the monthly chart has formed at the convergence of the of the 2007 all-time high, and the upper channel of the range the ASX:XJO has been trading in since 2009.
This could potentially signal the beginning...
Family Zone Cyber Safety Ltd has formed some nice bullish candles after a significant retracement.
Could possibly signal the end the retracement and lead to a bullish trend change.
Bullish PA is below 0.60 resistance level. A break and hold above this level would be needed to confirm bullish reversal and before signaling an entry.
After a week long bull move the AUDUSD has formed a good looking engulfing candle on the weekly for a long trade.
The bullish engulfing coincides with the uptrend after a a significant retracement, presenting a high probability 2.4 RR ratio setup.
After a week long bull move the AUDUSD 0.22% has formed a good looking engulfing candle for a long trade on the weekly chart.
The bullish engulfing coincides with the uptrend after a retracement.
Trade presents a positive 2.4 RR ratio with a high probability setup.
Gold has broken out of the long-term triangle with a bullish impulse move.
Confluence at 1300 zone of:
1. resistance turned support
2. 38% retracement fib of last impulse move
3. round number & psychological support (of 1300)
... makes it a high probability area for a long-term long position if supported with bullish price action.
Confluence of resistance line and 61.8% retracement at 0.70 may pose as a future resistance area on decreasing volume.
If upward momentum continues past 0.70, and follows by a retouch on 0.70 it may present a good buy opportunity.
Price breakout and gap up on Cougar Metals NL (CGM:ASX).
The reasons for the sudden increase in price are unknown and CGM is now in a trading holt pending ASX inquiry.
Trading holt requested by company pending price sensitive news release. Will resume trading Tuesday 29 Aug.
Price action has consolidated on increased volume from mid 2016 and has formed a long term pennant.
If price breaks from the flag on high volume, retests and holds the retest - it may present a good buy opportunity for a long-term recovery and trend change.
$ASX:DDR has broken out of the consolidating pennant formation with an impulse move from 2.44 to 2.75.
The price has subsequently retraced to retest the previous resistance turned support zone and presents a high probability buy opportunity.