Short ASX below 5693.4 towards 5275.2

Short ASX below 5693.4 towards 5275.2

Short ASX below 5693.4 towards 5275.2

Technical Observation
Recently, a sharp drop towards a key daily support line 5693.4 was seen and even a breakout to the lower side. I'm waiting for price to sustain this broke out to short this index towards 5275.6. Unless price gets back below 5693.4 with a big red candle, I'll remain flat. A clear breakout below 5693.4 will signal and increase in bears and could push the price to the lower side. My advice, wait for this breakout to short ASX.

Technical levels:

Resistance levels
R1: 6001.1
R2: 5496.2

Support Levels
S2: 5692.3.
S3: 5374.3
Trade Signal

Short ASX below 5693.4 towards 5275.2
Wait and long around 12412.0
Short ASX below 5693.4 towards 5275.2
Technical Observation
in spite of everything,  The German Stock Index is still struggling to hit the daily support line 12412.0. The line 12412.0 is a key daily resistance line and unless its breached by a big red candle to the lower side, chances that the price could bounce from this line are very high. It should act as key support to any move to the lower side. My advice, although scalpers could short this index towards 12412.0, position traders should wait for a rejection from 12412.0 to long this index towards 15000.0
Technical levels:

Resistance levels

R1: 12416.1
R2: 10775.2

Support Levels

S1: 8970.1
S2: 5810.2

Trade Signal
Flat
Flat
Short ASX below 5693.4 towards 5275.2
Technical Observation

Since February 21st 2016, Silver has remained confined within a rising supportive trend line and currently rally slightly above it. I'm waiting for a clear bounce from this trend line to long silver towards 18.58. However, if price can clearly breakout below this trend line, then short positions will be more ideal and can be recommended. At the moment, its a waiting game. if the price is clearly rejected from the lower trend line, then this will be the best place to long silver. 

Technical levels:

Resistance levels

R1: 22.01

R2: 24.84

Support Levels

S1: 16.01

S2: 14.40
 
Trade Signal
Flat

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Imelda Maseno
Analyst of «FreshForex» company
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