Below is a weekly chart of the ASX 200.
Since the ASX 200 change in momentum last week - and failed recovery this week - the change sticks with weekly momentum now bullish decreasing. The index has closed on major TL resistance 2007/15/17, however, a breakdown below the 5705 - 5725 S/R area and 5675 support, with conviction, would confirm the probability of further bearish moves over the next several weeks to several months..
The MACD formed a bearish down-cross over the past couple weeks with an increasing negative histogram. Awaiting bearish confirmation signals either from the Stochastic to overbought conditions (<80) or a price breakdown. The Stochastic formed a bearish lower-high and down-cross over the past couple weeks, elevated within the bullish continuation region (>80). Remains above the dips in Q1, however, has recently decent quicker than anytime during 2017.
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- Weekend Charting and Chat - 26th May 2017
Below is a weekly chart of the ASX 200. Since the ASX 200 change...
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Last
7,821.8 |
Change
52.800(0.68%) |
Mkt cap ! n/a |
Open | High | Low |
7,769.0 | 7,837.8 | 7,769.0 |
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