Daily FNArena News - Technicals

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.

Michael Gable of Fairmont Equities notes that after drifting back from its post merger announcement high, TPG Telecom appears set for another run up.

Craig Parker of Moat Capital notes the ASX200 held 5650 in the sell-off but now gas to try and make it back to the 200-day moving average.

The Chartist reports a resilient iron ore price suggests upside for the miners but in the current context there’s still more to prove.

Michael Gable of Fairmont Equities notes that since Reliance Worldwide’s share price gapped up post-result, that gap has now been closed.

Craig Parker of Moat Capital suggests a -20% correction for the ASX200 is looming.

Michael Gable of Fairmont Equities suggests logistics REIT Goodman Group is breaking back up post sell-off.