ASX200: technical analysis
28 March 2018, 11:26
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 5750.0 |
| Take Profit | 5675.0, 5660.0 |
| Stop Loss | 5795.0 |
| Key Levels | 5660.0, 5675.0, 5750.0, 5845.0, 5900.0, 5930.0 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 5845.0 |
| Take Profit | 5900.0, 5930.0 |
| Stop Loss | 5825.0 |
| Key Levels | 5660.0, 5675.0, 5750.0, 5845.0, 5900.0, 5930.0 |
ASX200, D1
On the daily chart, the instrument is trading on the lower line of the Bollinger Bands. The price remains below its moving averages that are turning down. The RSI is about to test the border of the oversold zone. The Composite is growing, having failed its quite strong support.
ASX200, H4
On the 4-hour chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is approaching the border of the oversold zone, having broken down its longer MA. The Composite is falling as well.
Key levels
Support levels: 5750.0 (local lows), 5675.0 (May 2017 lows), 5660.0 (February lows).
Resistance levels: 5845.0 (local highs), 5900.0 (local highs), 5930.0 (December 2017 lows).
Trading tips
The price is testing a strong support near 5750.0. Its breakdown would lead to a fall continuation.
Short positions can be opened from the level of 5750.0 with targets at 5675.0, 5660.0 and stop-loss at 5795.0.
Long positions can be opened from the level of 5845.0 with targets at 5900.0, 5930.0 and stop-loss at 5825.0.
On the daily chart, the instrument is trading on the lower line of the Bollinger Bands. The price remains below its moving averages that are turning down. The RSI is about to test the border of the oversold zone. The Composite is growing, having failed its quite strong support.
ASX200, H4
On the 4-hour chart, the instrument is trading in the lower Bollinger band. The price remains below its moving averages that are directed down. The RSI is approaching the border of the oversold zone, having broken down its longer MA. The Composite is falling as well.
Key levels
Support levels: 5750.0 (local lows), 5675.0 (May 2017 lows), 5660.0 (February lows).
Resistance levels: 5845.0 (local highs), 5900.0 (local highs), 5930.0 (December 2017 lows).
Trading tips
The price is testing a strong support near 5750.0. Its breakdown would lead to a fall continuation.
Short positions can be opened from the level of 5750.0 with targets at 5675.0, 5660.0 and stop-loss at 5795.0.
Long positions can be opened from the level of 5845.0 with targets at 5900.0, 5930.0 and stop-loss at 5825.0.
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