Watch out...

  1. 3,377 Posts.
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    ... for these levels:

    If you've found it tricky to connect the usual follow-the-leader relationship between the
    US SP500 and our ASX200 for the last few weeks,
    try this:
    .
    Reverse engineer from the EMA 20 levels for each.
    It's a common reference point for trends, and functions as resistance when you're in an overall downtrend.
    .
    SP500 20EMA = 2651
    Last close = 2627
    i.e. .90% under the 20 EMA
    .
    (& RSI 46.7)
    .
    .
    ASX200 20 EMA = 5394
    .90% under the 20 EMA = 5345
    ASX200 at time of posting = 5305 (after rejecting 5365).
    .
    (& RSI 45)
    .
    .
    .
    So look out for those relationships...
    and watch out for reversal down from 20 EMA level.
    .
    Last edited by DmitriMA: 31/03/20
 
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