Daily FNArena News - Technicals

This week ATW’s Jerry Simmons expresses technical concern over the bearish pattern forming in the US-listed Chinese stock ETF and its potential impact.

The Chartist reports that Woolworths is readying itself for a pullback on the charts but this would provide an attratcive buying opportunity.

Michael Gable of Novus Capital discusses whether we may now have reached a pullback point and how investors should react.

This week ATW’s Jerry Simmons suggests we will not see a break-out in US stocks unless we first see a break-out in Chinese stocks.

The TechWizard notes no resistance for Telstra before $5.00 and the scope for that level to be tested in this rally.

The Chartist reports that aside from the odd expected pullback, the charts suggest CSL’s rally is not yet over.

Michael Gable of Novus Capital suggests a pullback in the ASX 200 is likely in the shorter term but is unlikely to be significant.

The Chartist sees a break-up in the charts for offshore LNG service provider Mermaid Marine.

Michael Gable of Novus Capital believes a pullback in the Rio Tinto share price is likely before another push to new highs.

This week ATW’s Jerry Simmons suggests a pullback for the S&P 500 is on the cards and the same is true for crude oil.