Daily FNArena News - Technicals

Price charts are painting a rather ominous outlook for equities, reports the TechWizard (with charts).

ANZ Bank shares are trading in a grey zone, reports the Wizard, implying they could go either way depending on resistance and support levels.

The TechWizard reports he holds a positive view onMonadelphous shares.

CommBank shares are trading with a positive bias, ultimately aiming for higher price levels, reports the Wizard.

The TechWizard believes more weakness should be expected for the price of crude oil.

If crude oil futures are showing the direction for global risk appetite, this week’s retreat has a lot further to go.

If crude oil is showing the short term direction of global risk appetite, more weakness should be expected for equities.

Gold has performed well in recent sessions but technical analysts at Barclays Capital now see scope for a near-term top.

Technical analysts at Barclays Capital see different paths ahead for crude oil and gold in the next few sessions.

Barclays chartists have been surprised by crude oil’s strong surge, as well as by gold’s frustrating performance.