Daily FNArena News - Technicals

Nick Linton-Ffrost of Fifth Wave suggests a break above 5400 or below 5100 for the ASX200 will set the trend.

Market analysts at FXCM suggest only a surprise plunge in the US dollar will prevent oil prices going lower still.

The Chartist suggests that while Fortescue’s technical break-up is encouraging, it’s not time to go piling in just yet.

Michael Gable of Fairmont Equities suggests the technicals are in favour of a break-up for Cochlear and a resumption of the uptrend.

Nick Linton-Ffrost of Fifth Wave suggests risk remains to the downside for the ASX200 ahead of a later bounce.

Market analysts at FXCM suggest that while a breach of support for the US broad market would force a shift to bearishness, the technicals are currently weighted to the upside.

Michael Gable of Fairmont Equities suggests that after a long correction, the uptrend for Ramsay Health Care may be set to resume.

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.