Below is a weekly chart of the S&P/ASX 200.
The S&P/ASX 200 closed the week below the converging resistance area and major TL resistance 2007/15/17 since forming a higher-low. However, it might now be more difficult for a BO to occur over the next several weeks as resistance move further apart. In short - if the index doesn't BO above 5840 next week, then it probably wont for the next several weeks. Weekly momentum remains bullish decreasing..
The MACD formed a bullish up-cross during late-4Q16 with an expanding positive histogram, however the histogram has been reducing for most of 2017 and is moving lower. The MACD could form a bearish down-cross within weeks.
Stochastic formed bullish higher-low's during 4Q16 before entering the bullish continuation region (>80). Currently In the process of forming bearish lower-high's and could become OB (<80) within weeks.
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
8,559.7 |
Change
-70.600(0.82%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,630.3 | 8,630.3 | 8,544.7 |
| XJO (ASX) Chart |