Friday, 19 April 2013

ASX 200 declining in trend channel, still yet to decisively break support

Daily chart shows the ASX 200 declining in a trend channel. Over the past couple of days it appears to have kissed goodbye to the top line of the old up trend channel.

Weekly chart shows the market is still within a resistance turned support zone, but only just.

NASDAQ 100 declines following break lower from bearish wedge

Daily chart.

Weekly chart... keep an eye on that possible Head and Shoulders top.