Daily FNArena News - Technicals

The Chartist reports the oil price may be set for a bounce but the risk remains to the downside.

Michael Gable of Fairmont Equities notes despite the odd rebound, technically Afterpay Touch is not looking positive.

Craig Parker of Moat Capital notes the 5650 level in the ASX200 effectively held last week but the risk is of a retest.

The Chartist reports the lithium price may have put in a low but this will need to be confirmed as the trend remains weak.

Michael Gable of Fairmont Equities suggests Costa Group is set up for a rally, although general market weakness may interfere.

Craig Parker of Moat Capital suggests a failure of the ASX200 to hold 5650 would signal a bear market.

The Chartist reports the Aussie has broken up out of its downward channel but any rally from here would likely be short-lived.

Michael Gable of Fairmont Equities suggests any further dips for Macquarie Group will present ahead of a resumption of the uptrend.

Craig Parker of Moat Capital suggests the charts are pointing to another wave down for the ASX200.

The Chartist reports it will likely remain a slow process, but the trend for the gold price is to the upside.