Main >
Analytics
>
Fresh forecast
>
Forex Technical Analysis: Trend potential
>
Short ASX below 5693.4 towards 5275.2

Short ASX below 5693.4 towards 5275.2 | 30 June 2017

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

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
See also:
Agree with the review?
Traders' opinion:

Close
Login

Show password

Hide password

 Forgot password?
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .

Our best awards:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company does not provide services in the following countries.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.
Riston Capital Ltd (20623 BC 2012) with registered address at Suite 305, Griffith Corporate Centre, Beachmont, P.O. Box 1510, Kingstown, Saint Vincent and the Grenadines.