The ASX 200 Australian Index (S&P/ASX 200) Daily Diagram Technical Analysis Training shows the following:
The ASX200 extended the uptrend movement last week but it declined in last Friday's sell off towards to 0.5 of Fib.
So the first think in mind is the case of correction ending at 0.5 of Fib or not. MACD is bullish above the zero line and RSI too but both has a weak force and a turn.
We have no special candlestick pattern except the long red candlestick of -1.36%. The index is above the KUMO and above the Kijun Sen (blue line) and has stopped on Tenkan Sen (green line).
There is no special pattern. The fib from 5374.92 to 5524.21 shows target levels.
If the "Argentina's" sell off has completed from the Markets and the 4 Banks movement has good results then all the Markets will turn Up and ASX will test 5631 again.
Otherwise consolidation around the 0.5 of fib will follow.
The ASX200 extended the uptrend movement last week but it declined in last Friday's sell off towards to 0.5 of Fib.
So the first think in mind is the case of correction ending at 0.5 of Fib or not. MACD is bullish above the zero line and RSI too but both has a weak force and a turn.
We have no special candlestick pattern except the long red candlestick of -1.36%. The index is above the KUMO and above the Kijun Sen (blue line) and has stopped on Tenkan Sen (green line).
There is no special pattern. The fib from 5374.92 to 5524.21 shows target levels.
If the "Argentina's" sell off has completed from the Markets and the 4 Banks movement has good results then all the Markets will turn Up and ASX will test 5631 again.
Otherwise consolidation around the 0.5 of fib will follow.
