Daily FNArena News - Technicals

Market analysts at FXCM suggest gold’s recent consolidation may form a short-term bullish triange, which indicates an upside breakout.

The Chartist reports that while the Dow Jones Industrials appears to have broken up, confirmation (under Dow Theory) requires the Transports index to follow suit.

Market analysts at FXCM note the S&P 500 is trading near a possible reversal point, while the oil price has fallen through a previous support level. Gold and currencies also examined.

Michael Gable of Novus Capital would like to see the ASX200 meaningfully confirm a level above 4400 before he can dismiss the potential for another down-move.

The Chartist suggests the road of least resistance for Telstra shares might be south. He’s awaiting for technical support to kick in.

Market analysts at FXCM demonstrate how to determine the direction of a market’s trend.

Market analysts at FXCM suggest gold prices are nearing a technical objective and prices may now mark time before a further move higher.

Market analysts at FXCM suggest while the S&P500 appears to have hit a key resistance level, the technical picture for gold is still looking positive.

The Big Switcheroo from defensives into Risk Assets is receiving support from technical charts.

The Chartist analyses the down-trend for the ASX Materials Index (the miners).