AU200AUD - 24h expiry
Price action looks to be forming a bottom.
Short term RSI is moving higher.
Further upside is expected.
Risk/Reward would be poor to call a buy from current levels.
A move through 7650 will confirm the bullish momentum.
We look to Buy at 7600 (stop at 7560)
Our profit targets will be 7700 and 7725
Resistance: 7650 / 7675 /...
AU200AUD - 24h expiry
The correction higher is assessed as being complete.
We expect a reversal in this move.
Risk//Reward would be good to call a sell from current levels.
A move through 7725 will confirm the bearish momentum.
The measured move target is 7625.
We look to Sell at 7750 (stop at 7790)
Our profit targets will be 7650 and 7625
Resistance:...
ASX200 - 24h expiry
Pivot resistance is at 7680.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 7625 will confirm the bearish momentum.
The measured move target is 7550.
We look to Sell at 7650 (stop at 7686)
Our profit targets will be 7560 and 7540
Resistance: 7650 / 7675 / 7700
Support:...
CAPITALCOM:AU200 chart mapping/analysis.
ASX following US market lead rallying into ~7000 psychological level (50% Fib) & descending trend-line (light blue dotted) confluence zone.
Aussie Volatility Index wreaking havoc on ASX.
XJO ~6500 range & XVI ~20 range marked out as area(s) of interest for potential supply/demand dynamics, TBC.
The ASX 200 suffered its worst day in 10-week on the final day of May, thanks to weak China PMIs and month-end flows. The first day of June posted a very minor (almost sheepish) gain, but with a positive lead from Wall Street and SPI futures higher by ~0.66% overnight, the ASX is expected to extend its rise from the lows.
The fact that the lows formed around a...
ASX200 - 24h expiry
Previous support level of 7129 broken.
Short term bias has turned negative.
Preferred trade is to sell into rallies.
The hourly chart technicals suggests further upside before the downtrend returns.
Further downside is expected although we prefer to sell into rallies close to the 7190 level.
We look to Sell at 7190 (stop at 7230)
Our...
ASX200 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
The hourly chart...
Reverse C&H formed on the AU200.
We had a very weak break above the neckline showing the bulls are not as strong as they ought to be.
This comes with a Warning because if you zoom out you'll see an even larger Box formation (range traded area).
One can place a stop loss but I would put it below the entire C&H to stop the chop.
7>21>200
RSI>50
Target...
ASX200 - 24h expiry - We look to Buy at 7316 (stop at 7266)
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
A lower correction is expected.
Short term bias has turned positive.
We look to buy dips.
Further upside is expected although we prefer to buy into dips close to the 7310 level.
Our profit targets...
ASX200 - 24h expiry - We look to Buy at 7270 (stop at 7220)
Previous resistance level of 7272 broken.
Our short term bias remains positive.
We are trading at overbought extremes.
A lower correction is expected.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 7390 and...
ASX200 - 24h expiry - We look to Sell at 7160 (stop at 7210)
We are trading at overbought extremes.
This is negative for sentiment and the downtrend has potential to return.
The hourly chart technicals suggests further upside before the downtrend returns.
The 200 day moving average should provide resistance at 7175.
Preferred trade is to sell into rallies....
ASX200 - 24h expiry - We look to Buy at 6910 (stop at 6860)
We are trading at overbought extremes.
A lower correction is expected.
Short term bias is mildly bullish.
The trend of higher lows is located at 6881.
Preferred trade is to buy on dips.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
Our profit targets...
