Daily FNArena News - Technicals

This week ATW’s Jerry Simmons suggests the odds of a pullback in the US are rising, with a fall below 1600 in the S&P 500 targeted.

Michael Gable of Novus Capital suggests a last hurrah bounce for Australian bank shares is in the offing before further declines, with Westpac chosen as the example.

The Chartist expects further volatility in the Aussie dollar, with the US$0.94 level looming as a test of critical technical support.

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.