Daily FNArena News - Technicals

Michael Gable of Fairmont Equities suggests technical patterns point to a potentially sharp rally for Westpac.

Nick Linton-Ffrost of Fifth Wave suggests the ASX200 may see a rally back to 5800 from its current level before correcting once more.

The Chartist reports a failure to hold 46.70 suggests open downside for the iron ore price.

Michael Gable of Fairmont Equities suggests if history repeats, ANZ Bank should characteristically rally from here.

Nick Linton-Ffrost of Fifth Wave suggests a breach of 5400 for the index implies downside to 5100 on technical analysis.

The Chartist reports Fortescue Metals is in a downtrend but is nearing support for those feeling brave.

Michael Gable of Fairmont Equities suggest big cap names will eventually rebound from the turmoil but Woodside may not be one of them.

Nick Linton-Ffrost of Fifth Wave suggests the next few days trading will determine whether the ASX200 has corrected or broken down once more.

The Chartist suggests it’s not too late to exploit upside potential in Macquarie Group.

Michael Gable of Fairmont Equities sees upside potential in Mirvac Group.