From Craig Cobb at Trade with Precision: Oh yes it can! This is a lesson many traders have to learn the hard way, often through trading losses. The old saying “what goes up must come down” is true, even in markets but when they will come back? This isn’t a known thing so be careful. […]
Asia Pacific indices Australia 200 appears to be stabilizing above 5,430 after a drop back from 5,570. RSI 50 also appears to be holding but if either of these levels fail it would signal the start of a deeper pullback that could retest 5,365 or 5,270 support. Japan 225 remains in an uptrend but is […]
Asia Pacific indices Australia 200 is rolling over from a lower high and is starting to seriously break down, taking out 5,500 and testing 4,450. Should that fail, 5,3760 could be tested. RSI testing 50 where a breakdown would confirm a downturn. Japan 225 ran into resistance near 17,415 and has dropped back toward 17,275, […]
Asia Pacific indices Australia 200 is going sideways in a channel between 5,500 and 5,560. RSI above 50 but rolling over suggests recent upswing exhausted for now. Next support on a breakdown near 5,425 a Fibonacci level. Japan 225 has broken out of a descending triangle and rallied up toward the top of its 16,700 […]
Asia Pacific Indices Australia 200 has levelled off in the 5,460 to 5,580 range consolidating its recent rally. Next resistance on a breakout possible near 5,600 then 5,680. RSI also suggests upward momentum stalling for now. Next support near 5,430 a Fibonacci level. Hong Kong 43 took out its recent lows near 23,585 to signal the […]
Asia Pacific indices Australia 200 remains under accumulation with support for the index moving up toward 5,425 a Fibonacci breakout point while resistance appears possible near 5,500 then 5,555. RSI indicates upward momentum still increasing. Japan 225 looks like its rebound has run out of gas with resistance falling from 15,460 toward 15,390 both near […]
Asia Pacific indices Australia 200 continues to climb, clearing 5,430 which may emerge as new support with next resistance near 5,500 then 5,550 a previous breakdown point. RSI above 50 and rising indicates upward mo accelerating. Next support in a correction near 5,370. Japan 225 has run into resistance near 15,385, having completed a 50% […]
Asia Pacific indices Australia 200 has run into some resistance near 5,425 a Fibonacci level and may be starting to consolidate with initial support near 5,400 then 5,370. RSI above 50 and rising indicates upward momentum still accelerating with next resistance near 5,480 then 5,545. Japan 225 remains in an upswing with support rising toward […]
AUD/NZD has traded in a sideways range for more than 3 months, bounded by 1.0917 and 1.1293. This week, inflation data in NZ came in weaker than expected; leading analysts to suggests that the RBNZ may pause in its current lifting of cash rates. Under this scenario, Mr Market may expect the Kiwi dollar to […]
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