Austalian Index Review
The Australian index continues to consolidate within the equilibrium zone 5820.1-5692.6 and is not showing any signs of breaking either above or below it. I'm still jittery about shorting this pair, however, if the price can decline below 5692.6, then I'll wait for a minor pullback to the just broken line to pick a short position towards the daily support line 5522.9. Another place to look for a short position is upon a rebound from daily resistance line 5820.1, but, if the price can break above 5820.1, then I'll consider a long position towards 6000.1
Only short this index on a clear breakout below 5692.6.
Place a pending Buy limit order around 2.843
Last week, the Gas rose to fresh weekly highs and is still showing signs it could rise further. A key monthly support line can be seen at 2.843 and unless its clearly breached to the lower side with a big red candle, I remain jittery shorting this pair. However, I still expect the price to plummet towards this support line to long the gas towards the monthly resistance line 4.134. a key weekly resistance line can be seen around 3.292 and if it can broken to the upper side then this will confirm a move to the upper side.
Place a pending Buy limit order around 2.843.
NASDAQ 100 Index
Last weekly NASDAQ 100 Index reached fresh weekly highs of up to 5922. The fact that this index went above a key weekly resistance line 5881.8 implies that the price could rise even further up towards 6103.0. However, for conservatory reasons, I'm still hesitant to long this pair instead, I'm waiting for slight pullback to the lower side, especially towards the just broken line to pick a long position. This upward rally is anticipated following the bullish cross over the three exponential moving averages. Unless these three are clearly broken to the lower side with a big red candle, I'd remain long in this index
Wait for a pullback towards 5881.8 to pick a long position with a target at 6103.0.