... 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.
.
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