Daily FNArena News - Technicals

Michael Gable of Fairmont Equities suggests high beta stock Macquaurie Group is set for a technical break-up.

The Chartist suggests the Shanghai stock index has put a bottom in place that is unlikely to be revisited.

The TechWiz discusses the US stock index futures, and Sydney buses.

Michael Gable of Fairmont Equities suggests if markets favour, Woolworths should be looking at retesting its highs.

If WTI crude breaks up through US$115 the next stop is US$140, the Techwizard suggests.

Michael Gable of Fairmont Equities suggests the Australian market is looking good at present but is threatening another pullback to below 5000.

This week ATW’s Jerry Simmons examines US ten-year and thirty year bonds and suggests both charts are confirming bear markets.

The Chartist notes AMP shares have rallied post profit result but suggests the risk/reward balance is in favour of looking for investment elsewhere.

If gold does not press higher from here it is likely to go a lot lower, the charts tell the TechWizard.

Last night’s AUD reversal has triggered a sell signal the TechWizard has exploited.