Daily FNArena News - Technicals

Craig Parker of Moat Capital notes the ASX200 is bumping up against key resistance levels on the daily and weekly charts.

The Chartist reports strong upside may be ahead for the S&P500 but a retest of the low remains a risk.

Michael Gable of Fairmont Equities suggests Rio Tinto’s break-out confirms the resumption of an uptrend in price.

Craig Parker of Moat Capital notes technical analysis cannot predict unfolding geopolitical risk, although the trend remains weak for the ASX200.

The Chartist reports the technicals for the iron ore price are becoming supportive, suggesting positions in iron ore miners are worth considering.

Michael Gable of Fairmont Equities suggests the ASX200 is shaping for a rally, and looks at the prospects for Commonwealth Bank.

Craig Parker of Moat Capital suggests the ASX200 may fall into a downtrend as the S&P500 leads the way.

The Chartist reports copper is showing upside technical support even if the price falls lower.

Michael Gable of Fairmont Equities suggests lithium miner Orocobre should find support at $5.00.

Craig Parker of Moat Capital suggests the ASX200 remains in a longer term uptrend, but the question is as to how far this pullback will run.