Sunday, 25 October 2015

ASX 200 near key trend line resistance

Monthly chart first. No reason yet to change the bearish Elliott Wave count, as even with last week's rally, the ASX 200 and global markets have merely reached points where they are testing or near key resistance. I posted charts earlier today for the S&P 500, Hang Seng, Nikkei, and the EURO STOXX 50 index. All charts include all sessions trade.



Weekly chart shows ASX 200 trading near trend line resistance.



Daily chart shows ASX 200 trading near trend line resistance.


S&P 500 at different trend line resistances on monthly, weekly & daily charts

Monthly chart all sessions.



Weekly chart all sessions.



Daily chart cash market



Other stock indexes around the world are also at or near key trend line resistance levels. I posted charts today for ASX 200Hang SengNikkei, and the EURO STOXX 50 index.

Hang Seng at trend line resistance

Weekly chart. Crucially, includes all sessions trade through to the end of last week. The Hang Seng rallied to trend line resistance, at the underside of the channel which captured much of the market's action over the past year.  I see no reason to change my long held Elliott Wave count.



Daily chart gives a clearer view of that channel.



Other stock indexes around the world are also at or near key trend line resistance levels. I posted charts today for ASX 200S&P 500Nikkei, and the EURO STOXX 50 index.

EURO STOXX 50 at monthly chart trend channel resistance



Other stock indexes around the world are also at or near key trend line resistance levels. I posted charts today for ASX 200S&P 500Hang Seng, and Nikkei.

Nikkei at weekly and daily chart trend line resistance

Weekly



Daily



Other stock indexes around the world are also at or near key trend line resistance levels. I posted charts today for ASX 200S&P 500Hang Seng, and the EURO STOXX 50 index.

Gold testing big weekly chart trend line resistance

Weekly chart shows Gold testing trend line resistance. Keep an eye on Silver (today's post here), as healthy moves in these markets generally trend together, and Silver is also testing a big weekly chart trend line.



Daily chart shows Gold turned lower at trend channel resistance. The trend channel could be a bear flag.



4 hour chart zooms in on the daily chart channel and shows also a shorter term channel. I'd be tempted to play a break, in either direction.


Silver turning lower from big weekly chart trend line resistance?

Weekly chart shows Silver turning lower from trend line resistance. Can't be sure. Still warrants a ?



Daily



AUD/USD testing 14 year old trend line support, favour a break lower against Oct high?

Monthly



Weekly chart. Trend line resistance around the October high makes that level key, for now.



Daily


EUR/USD headed for 0.80 following multi year Head & Shoulders top?

Monthly chart first. Measured target for this Head & Shoulders top is around 0.80.



Weekly



Daily chart suggests next big leg lower may be beginning.