Daily FNArena News - Technicals

The Chartist reports that while there may be more upside for banks until yield becomes unattractive, the move remains a bear market bounce.

The TechWizard sees exhaustion for the solid run in the NZDUSD with two or three week’s of selling now in the offing.

Michael Gable of Novus Capital looks to technical comparisons of sector performance in 2003 to debate the case for a bull market.

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.