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ASX

ASX dragged lower by the DowThe Dow Jones futures market fell for an 8th consecutive day on Monday, a bearish sequence not seen in over 12 years. And that's not good news for ASX 200 bulls, as the index tends to track the Dow very closely. The daily chart looks like it wants to head to 8200, and it just 1 - 2 bearish trading days away from it looking at a typical day's range. The 1-hour trend has favoured bearish swing traders, who could seek to fade into moves towards the 20-50 hour EMAs.
ASX24:AP1!Short
by CityIndex
ASX 200 futures look set to bounceThe Nasdaq reached a record high and the S&P 500 is close to reaching its own record high. So while the Dow was lower for a fourth day, 2 out of 3 indices rising could help support the ASX today. It's been over a week since the ASX began retracing from its record high, and with prices now trying to form a base above the monthly pivot point and historical weekly VPOC (volume point of control), I'm now looking for longs. The ASX has opened lower but remains within the overnight range. Assuming prices hold above the spike low, the bias is for a move higher to last week's VAL (value area low) or VPOC.
ASX24:AP1!Long
by CityIndex
AU200 forming a top?ASX200 - 24h expiry Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower. We therefore, prefer to fade into the rally with a tight stop in anticipation of a move back lower. Although the anticipated move lower is corrective, it does offer ample risk/reward today. Expect trading to remain mixed and volatile. We look to Sell at 8500 (stop at 8554) Our profit targets will be 8366 and 8170 Resistance: 8570 / 8820 / 9000 Support: 8440 / 8350 / 8170 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:AU200AUDShort
by OANDA
ASX to continue in the upward move?ASX200 - 24h expiry Price action has continued to trend strongly lower and has stalled at the previous support near 8350. The correction lower is assessed as being complete. RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending. A move through 8400 will confirm the bullish momentum. The measured move target is 8475. We look to Buy at 8350 (stop at 8310) Our profit targets will be 8450 and 8475 Resistance: 8425 / 8450 / 8475 Support: 8375 / 8350 / 8325 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:AU200AUDLong
by OANDA
ASX to find sellers at market price?ASX200 - 24h expiry Indecisive price action has resulted in sideways congestion on the intraday chart. Pivot resistance is at 8225. We expect a reversal in this move. Risk/Reward would be poor to call a sell from current levels. A move through 8175 will confirm the bearish momentum. Our profit targets will be 8150 and 8125 We look to Sell at 8225 (stop at 8265) Resistance: 8200 / 8225 / 8250 Support: 8175 / 8150 / 8125 Risk Disclaimer The trade ideas beyond this page are for informational purposes only and do not constitute investment advice or a solicitation to trade. This information is provided by Signal Centre, a third-party unaffiliated with OANDA, and is intended for general circulation only. OANDA does not guarantee the accuracy of this information and assumes no responsibilities for the information provided by the third party. The information does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit. You accept that you assume all risks in independently viewing the contents and selecting a chosen strategy. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, Oanda Asia Pacific Pte Ltd (“OAP“) accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore customers should contact OAP at 6579 8289 for matters arising from, or in connection with, the information/research distributed.
OANDA:AU200AUDShort
by OANDA
Potential outside week and bullish potential for RMSEntry conditions: (i) higher share price for ASX:RMS above the level of the potential outside week noted on 30th August (adjusted with the incidence of the inside week the following week, allowing activation of the trade above the level of the range for that week, i.e.: above the level of $2.20, as depicted by the blue dotted line and accompanying text on the chart). Stop loss for the trade would be: (i) below the swing low of 27th August (i.e.: below $2.02), should the trade activate.
ASX:RMSLong
by Ivory_Wolf
ASX 200 flirts with bearish reversal breakoutElection jitters are in the air, and it is weighing on Wall Street sentiment - and dragging the ASX 200 with it, which also faces pressure from a spate of weak China figures in recent weeks. A potential head and shoulders top has formed on the daily chart, and prices are close to testing a support zone which could double up as a neckline. For now, the ASX appears hesitant to break the 8130/50 support zone which brings could prompt a minor bounce over the near term. A break beneath 8130 confirms the bearish reversal, which projects an approximate downside target near 7900 and the 200-day EMA. Also note the 8100 and 8000 levels which could provide support along the way MS
ASX24:AP1!Short
by CityIndex
AU200 to continue in the downward move?ASX200 - 24h expiry Indecisive price action has resulted in sideways congestion on the intraday chart. Momentum is flat, highlighting the lack of clear direction. Further downside is expected. Risk/Reward would be poor to call a sell from current levels. A move through 8200 will confirm the bearish momentum. We look to Sell at 8240 (stop at 8280) Our profit targets will be 8140 and 8125 Resistance: 8240 / 8250 / 8275 Support: 8200 / 8140 / 8125
OANDA:AU200AUDShort
by OANDA