Daily FNArena News - Technicals

Nick Linton-Ffrost of Fifth Wave suggests the next 4-6 months of direction for the ASX200 will be determined by how the market performs in the next 5-10 days.

Michael Gable of Fairmont Equities REA Group remains in a longer term uptrend, but traders may consider taking profits ahead of another entry opportunity.

Nick Linton-Ffrost of Fifth Wave suggests believes that if the index cannot push above 5400 shortly the risk for a fall back through 5000.

The Chartist is awaiting the opportunity to jump on a strong run up for G8 Education.

Michael Gable of Fairmont Equities suggests the ASX200 will need to do some work to break up through 5400, but the technicals are positive.

Nick Linton-Ffrost of Fifth Wave suggests breaking above 5420 implies a move back to 6000 for the ASX200.

The Chartist reports the technicals are suggesting the sell-off in Telstra may now be petering out.

Michael Gable of Fairmont Equities reports the technicals suggest Commonwealth Bank shares are primed to rally back over $80.

Nick Linton-Ffrost of Fifth Wave suggests trading above 5420 would signal a return to the highs for the ASX200.

Market analysts at FXCM believe US dollar weakness will trigger a break-up in the WTI oil price through the 200-day moving average and higher thereafter.