Daily FNArena News - Technicals

The Chartist reports Fortescue Metals is in a downtrend but is nearing support for those feeling brave.

Michael Gable of Fairmont Equities suggest big cap names will eventually rebound from the turmoil but Woodside may not be one of them.

Nick Linton-Ffrost of Fifth Wave suggests the next few days trading will determine whether the ASX200 has corrected or broken down once more.

The Chartist suggests it’s not too late to exploit upside potential in Macquarie Group.

Michael Gable of Fairmont Equities sees upside potential in Mirvac Group.

Nick Linton-Ffrost of Fifth Wave suggests trading in the ASX200 over the next few days will dictate direction for the next few weeks.

Michael Gable of Fairmont Equities suggest the pullback in Commonwealth Bank may have reached a conclusion.

Nick Linton-Ffrost of Fifth Wave suggests if the ASX200 cannot recover 5580 , downside risk remains in place.

Michael Gable of Fairmont Equities notes Wesfarmers has traded down to a longstanding support level.

Nick Linton-Ffrost of Fifth Wave discusses the potential implications of last week’s big fall in the ASX200.