Daily FNArena News - Technicals

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.

The Chartist reports a lengthy consolidation pattern for Seek suggests an upside break may soon be nigh, albeit patience is required.

Michael Gable of Fairmont Equities suggests ResMed may fall further before the upside trend resumes.

Nick Linton-Ffrost of Fifth Wave suggests the technicals suggest further downside for the ASX200, with a break of 5750 implying a move to 5500.

The Chartist reports the recent bounce in the iron ore price might not simply represent a short term snap-back.