Daily FNArena News - Technicals

Michael Gable of Fairmont Equities suggests any further pullback in Macquarie Group will present a buying opportunity ahead of another rally.

The Chartist reports the long trade in the Aussie is still preferred but upside may soon become limited.

ANZ chartists suggest the US stock market uptrend in place since the 1930’s remains unbroken, while the outlook for Australia is not quite so clear.

Michael Gable of Fairmont Equities suggests that while any more negatives out of Washington might see another dip, BHP should otherwise look to $40 once more.

This week ATW’s Jerry Simmons examines the US-listed goldminers ETF and suggests its weakness is signalling more downside for the gold price.

The Chartist reports a corrective phase is underway for Wesfarmers but the technicals suggest longer term investors may like to set up for some subsequent blue sky.

Michael Gable of Fairmont Equities suggests Santos is ready to pull back after a solid run, offering up an attractive buying opportunity.

The Chartist believes there may be a rebound in the US dollar index from an oversold level, but this would provide a shorting opportunity.

Michael Gable of Fairmont Equities suggests Sonic Healthcare is shaping up as a solid longer term proposition.

Commonwealth Bank technical indicators are suggesting a pullback is on the cards, the TechWizard notes.