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Sell the Australian index below 5692.7

Short Silver towards 14.40

Sell the Australian index below 5692.7

Technical Observation:
Recently, silver broke out  below 18.16 on 2nd October 2017, retraced to it twice but is currently on the lower side, Unless this level is clearly breached to the upper side, I expect to continue short towards 14.40. On the weekly chart above, sell positions seems more ideal and can be recommended towards 14.40. Buy positions are only ideal above 18.16 towards 24.84. 

Technical levels:

Resistance levels
R1: 24.84
R2: 22.01

Support Levels
S1: 15.79
S2: 14.40
 
Trade Signal
Short Silver towards 14.40
Buy German Stock index
Sell the Australian index below 5692.7
Technical Observation:
Recently the German Stock Index broke out above a key weekly resistance 12416.0 but is currently pulling back towards it. Now that the price is above  this resistance, this line should act as a support to any movements to the lower side, thus, I expect rejection from this line to long this index towards 13000.0. On the Weekly chart above, buy positions seems more ideal and more assured than the other.
Technical levels:

Resistance levels

R1: 13000.00

R2: 12880.30
Support Levels

S1: 10775.4

S2: 8970.9
 
Trade Signal
Long German Stock Index towards 13000.0.
Sell the Australian index below 5692.7
Sell the Australian index below 5692.7
Technical Observation:
Recently, the Australian index broke out below the  rising wedge but is yet to descend below  a significant support line 5692.2. I'm waiting for retracements to the just broken lower trend line and also below 5692.7 to sell this index towards 5374.2. On the daily chart above, sell positions looks more lucrative but only below 5692.7. My advice, wait and sell below 5692.7 towards 5374.2.

Technical levels:

Resistance levels

R1: 5821.0

R2: 6000.1

 

Support Levels

S1: 5692.7

S2: 5374.3
 
Trade Signal
Short the Australian index below 5692.7

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
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