Monday, August 18, 2014

AUS200 Forecast for the week ending 22nd August, 2014

AUS200 Forecast for the week ending 22nd August, 2014

Monthly Chart


  • Monthly Chart looks for an upside potential to test 6000
  • To note MACD lines looks crossing, however monthly candle not closed.
  • RSI trading above 50 and contracting triangle


Weekly Chart
  • Price is holding onto support which was resistance until feb this year.
  • If RSI breaks upwards of the triangle, should look for opportunity to go long

Daily Chart

  • Two weeks ago, performed a nice Hammer from the Monthly S1 pivot / support
  • Rising MACD
  • RSI back above 50 pointing north

Outlook Trade opportunity

Longer term, i have a bias of new highs.
Would only trade this if any price action from retrace support levels gives us the opportunity

Risk Level __


Tips -

Always take note of any economical news event on our provided calender below



No comments:

Post a Comment