Daily FNArena News - Technicals

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.

This week ATW’s Jerry Simmons notes the US dollar is in bearish mode but could reverse. Gold is nearing resistance.

The Chartist reports a bullish trend is emerging for BHP, but a retracement may yet transpire providing an attractive buying opportunity.

The TechWizard suggests 1740 on the upside and 1700 on the downside will spark strong moves up or down respectively for the S&P 500 futures.

Michael Gable of Novus Capital suggests a stagnant Australian market is threatening a 5% pullback, but the timing is unclear.

This week ATW’s Jerry Simmons suggests the S&P 500 remains in bullish mode above 1550 while the US dollar is looking weak.

Michael Gable of Novus Capital suggests work at 5000 may give way to a pullback for the ASX 200, with the Dow Jones also looking toppy.

This week ATW’s Jerry Simmons examines gold and suggests a break of 1310 could suggest a low is in place. The Aussie is also looking vulnerable against the yen.