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Sell the Australian index Around 5821.0

Sell the Australian index Around 5821.0 | 21 July 2017

Sell this index around 5821.0

Sell the Australian index Around 5821.0

Technical Observation

The Australian index failed to break below the support line 5692.3 instead it pullback within the equilibrium zone 5821.0-5692.6 and is still within it. I expect a rise towards the top of this zone and then a reversal.  Unless there's a clear breakout either above or below this zone, I choose trade reversals only. A breakout above this upper resistance, 5821.0 will push the price further upwards towards the next resistance line 6000.1, while a break below the support line 5692.6 will mean waiting for a pullback to the just broken line to short this index towards 5522.2. On the daily chart , |I'm waiting to short this index around 5821.0 with my take profit at 5692.6.

Technical levels:

Resistance levels
R1: 6000.1
R2: 5806.1

Support Levels

S1: 5374.3
S2: 5129.6
Trade Signal
Sell this index around 5821.0
 
 

Position traders should long gas around 2.843 towards 4.126

Sell the Australian index Around 5821.0

 

Technical Observation
In June 2016, Gas breakout above a key monthly resistance line 2.843, retraced back to it the following month, but after that, the price rallied upwards reaching the highs of 3.882 and did not take my profits set at 4.126, instead, gas declined in price and is currently rallying above the same key line it broke above June last year. I expect this line to act as  a support to any move to the lower side. Thus, I'm waiting for a perfect close around this line to long Gas towards my previous target at 4.126. A key resistance line can be seen around 3.452, if the price can breakout above it, then a move towards 4.126 is highly expected. My advice, long gas around 2.843 towards 4.126
Technical levels:

Resistance levels
R1: 4.149
R2: 4.870
Support Levels
S1: 1.736
S2: 2.836
Trade Signal
Position traders should long gas around 2.843 towards 4.126.
 
 
 
Wait for a break above 5781.0
Sell the Australian index Around 5821.0
Technical Obseverstion
 
Even after the breakout below all the three moving averages, NASDAQ-100 Index failed to sustain this breakout instead, earlier the previous week,  the price clearly broke again above all the three exponential moving averages, (14, 35,56) and is still above them. The price went even higher to breakout above the daily  resistance line 5781.0. Unless the price break below this resistance line and also below the three moving averages. I expect a bullish move  towards the weekly resistance line 6165.0. A key resistance line can be seen around 5881.8, if it can be broken with a big green candle, then a move towards the target  6165.0 is highly expected

Technical levels:

Resistance levels
R1: 5888.2
R2: 5758.2


Support Levels

S1: 5328.3
S2: 5373.2

Trade Signal
Wait for a breakout above 5781.0 to long this index towards 6165.0
 
 
 
 

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Imelda Maseno
Analyst of «FreshForex» company
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