Sunday, 4 May 2014

ASX 200 top in?

ASX 200 weekly chart first. Failed break above trend line resistance coupled with bearish reversal bar / candle says top could be in. All charts include after hours trade.

Next chart zooms out, to better illustrate the trend lines in play, still a weekly.

Daily chart shows trend line support being tested. A move below that would boost the bearish case.

AUD/USD daily chart trend turning down?

Wildly volatile trade on Friday didn't change the daily chart picture. The trend is turning to down, unless the AUD/USD can rally through the nearby short term down trend lines and above 93.20.