Daily FNArena News - Technicals

Nick Linton-Ffrost of Fifth Wave suggests risk remains to the downside for the ASX200 ahead of a later bounce.

Market analysts at FXCM suggest that while a breach of support for the US broad market would force a shift to bearishness, the technicals are currently weighted to the upside.

Michael Gable of Fairmont Equities suggests that after a long correction, the uptrend for Ramsay Health Care may be set to resume.

Nick Linton-Ffrost of Fifth Wave suggests the next 4-6 months of direction for the ASX200 will be determined by how the market performs in the next 5-10 days.

Michael Gable of Fairmont Equities REA Group remains in a longer term uptrend, but traders may consider taking profits ahead of another entry opportunity.

Nick Linton-Ffrost of Fifth Wave suggests believes that if the index cannot push above 5400 shortly the risk for a fall back through 5000.

The Chartist is awaiting the opportunity to jump on a strong run up for G8 Education.

Michael Gable of Fairmont Equities suggests the ASX200 will need to do some work to break up through 5400, but the technicals are positive.

Nick Linton-Ffrost of Fifth Wave suggests breaking above 5420 implies a move back to 6000 for the ASX200.

The Chartist reports the technicals are suggesting the sell-off in Telstra may now be petering out.