Daily FNArena News - Technicals

The Chartist sees further weakness ahead for Australian bank share prices before a longer term uptrend can resume.

Michael Gable of Novus Capital suggests there may be a bounce in the shorter term, but that the technical bias for the Australian market remains to the downside.

This week ATW’s Jerry Simmons looks at copper and suggests a price break-out to the upside is required is the US equities rally is to continue.

Michael Gable of Novus Capital suggests the charts are warning of more falls to come for Wesfarmers post its Target downgrade slide.

This week ATW’s Jerry Simmons sees both the gold price and the euro at critical levels where a bounce or more downside hangs in the balance.

FXCM Market analyst Jamie Saettele sees more weakness for gold.

The Chartist suggests Rio Tinto is likely to fall further before a buying opportunity arises.

Michael Gable of Novus Capital suggests the ASX 200 should trend higher, noting benefits for various stocks on the back of a lower Aussie.

This week ATW’s Jerry Simmons examines US bond rates and sees an upside break-out, along with weakness building in the euro and a downward trend for gold.

Michael Gable of Novus Capital finds technical pressure on hard-running discretionary retail stocks, with Myer a clear contender for a pullback.