Sunday, 5 May 2013

ASX 200 nearing potential parallel trend line resistance

With the US stock market indexes nearing or reaching the tops of 6 month old trend channels, I believe upside is limited for those markets and the ASX 200 also.



S&P 500 nearing top of 6 month old trend channel


NASDAQ 100 rallies to top of 6 month old of trend channel


AUD/USD and AUD/JPY rally from false trend line breaks, the former is still range bound

AUD/USD


AUD/JPY


USD/JPY Friday's close over 18 day moving average screams buy

Needless to say, no guarantees it'll work this time, but closes over the 18 have been winning trading edges for quite some time now.

Gold and Silver channeling neatly on the hourly charts

Gold


Silver