The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following:
The ASX200 declined from the top of the uptrend channel and broke KUMO support as EMA 200 too.
So the first think in mind is the 1.618 of fib as a support or the 1 of fib as a resistance target. MACD is trying ti turn bullish and RSI reacts from the overbought levels.
We have no special candlestick pattern. The index is under the KUMO and under the Kijun Sen (blue line) and under the Tenkan Sen (green line).
There is no special pattern.
Long for a pull back to the EMA 200. Stop loss if it stabilizes under 5250.
The ASX200 declined from the top of the uptrend channel and broke KUMO support as EMA 200 too.
So the first think in mind is the 1.618 of fib as a support or the 1 of fib as a resistance target. MACD is trying ti turn bullish and RSI reacts from the overbought levels.
We have no special candlestick pattern. The index is under the KUMO and under the Kijun Sen (blue line) and under the Tenkan Sen (green line).
There is no special pattern.
Long for a pull back to the EMA 200. Stop loss if it stabilizes under 5250.
