Tuesday, 13 August 2013

ASX 200 testing trend line resistance, perhaps wedging in to a secondary peak?

The ASX 200 is testing trend line resistance, perhaps wedging in to a secondary peak? Just asking the question. Makes obvious and perfect sense to be long unless the ASX 200 breaks last week's low. Obvious and perfect is often a recipe for reversal. We can't predict the market, but at least the charts give us levels to measure risk against.


S&P 500 turning lower at 5 year old trend line resistance?

Last week's candle had a long red body, following a test of the trend line. So it's worth noting that since late 2008 any long red weekly candle after a test of the illustrated  trend line has lead to further decline.


Is the EUR/USD bear market from 2011's peak beginning a new leg lower?

Weekly chart illustrates the EUR/USD bear market from 2011's peak. Is the market turning lower at trend line resistance?


Daily chart shows the market could be topping in the right shoulder of an extended Head and Shoulders top.


4 hour chart shows the market has broken short term trend line support.


GBP/USD turning lower at trend channel resistance?

The GBP/USD is testing trend channel resistance. MACDH is showing a bearish divergence in to last week's high on the daily chart. Also last week's high coincided with a Fibo 76.4% retracement of the June July decline.