Daily FNArena News - Technicals

The Chartist reports Wesfarmers is nearing technical resistance, suggesting profit-taking is advised.

Michael Gable of Novus Capital discusses the potential for further upside in the Australian stock market.

This week ATW’s Jerry Simmons examines the potential for gold to test its 2012 low of 1535 and possibly even break lower.

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.