Daily FNArena News - Technicals

Nick Linton-Ffrost of Fifth Wave suggests the ASX200 is sitting inside a trigger level range of 5100 to 5300.

The Chartist reports the technical trend is up for Wall Street but some further consolidation is likely in the near term.

Michael Gable of Fairmont Equities suggests weakness in CBA will proceed a push higher.

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.