Daily FNArena News - Technicals

Nick Linton-Ffrost of Fifth Wave suggests having reclaimed 5750, the ASX200 is again poised at the pivot point of upside and downside.

The Chartist notes strong volume at Qantas’ trading highs, possibly suggesting a pullback.

Michael Gable of Fairmont Equities suggests that after a sharp bounce from its lows, Medibank Private is struggling at resistance.

Nick Linton-Ffrost of Fifth Wave suggests the ASX200’s near term direction is dependent on a recovery to 5750.

The Chartist suggests the severity of the bank sell-off implies caution in calling the banks oversold at this point, yield support notwithstanding.

Michael Gable of Fairmont Equities notes Incitec Pivot has fallen back to support and may be set to rebound.

Nick Linton-Ffrost of Fifth Wave suggests holding above 5750 or peaking below this week will determine the near term direction of the ASX200.

Michael Gable of Fairmont Equities suggests the CBA share price should find support around current levels before moving higher once more.

Nick Linton-Ffrost of Fifth Wave suggests if the ASX200 holds above the 5750 level then the bias is to the upside.

Kerryn McHardy of Traders Circle explains the technical significance of an ascending channel pattern in the case of Flight Centre.