News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • The inside bar pattern occurs regularly within financial markets. Incorporating the inside bar strategy can enhance a trader's market analysis. Find out how you can use it from @WVenketas here: https://t.co/E3EWOYTYNw https://t.co/aK98CEpfOH
  • Point 3 is not talked about enough. The bureaucratic - dare I say, Leviathan - in most universities is resulting in tuition prices skyrocketing without adding clear value to the students. https://t.co/WNZIORrfAk
  • Think #amzn will gap higher on Monday after Black Friday and the giant move to online shopping?
  • The exponential moving average (EMA) is a derivative of the simple moving average (SMA) indicator. Compared to the SMA, the EMA weighs recent price changes more heavily than later changes in price. Learn how to incorporate the EMA into your strategy here: https://t.co/w48c0xJXSX https://t.co/xFmhA7ZHqU
  • Traders in the Euro have a big decision to make this weekend: if EUR/USD hits 1.20, will it continue to advance, consolidate or fall back? Get your $EURUSD market update from @MartinSEssex here:https://t.co/8hAhguZcEA https://t.co/kwtatozp3z
  • The bullish engulfing candle is one of the forex market's most clear-cut price action signals for reversals and continuation. Learn more about this price action trading signal here: https://t.co/Yg6ecRZZNr https://t.co/9SdceNYUEK
  • The bull flag pattern is a great pattern to add to a forex trader's technical arsenal. Explosive moves are often associated with the bull flag. Learn more about the bull flag pattern here: https://t.co/yOEvLjKnct https://t.co/imv2PnapzH
  • Defensive stocks have proven critically important when navigating stock market volatility. Find out what are the most defensive stocks here:https://t.co/TMcbMALtbw https://t.co/mmldxxEtsc
  • Dollar Index has broken major uptrend support and risks accelerated losses into the December open. Get your $USD technical analysis from @MBForex here:https://t.co/Txo8l8S1f1 https://t.co/YLVzP95JH8
  • The MACD is an indicator that uses exponential moving averages (EMA) to determine trend strength along with entry points based on crossovers. Find out how you can use the MACD as a buy/sell signal here: https://t.co/qxnP99uqTQ https://t.co/tGVqSZ2zK3
ASX 200 Technical Analysis: 'Super Range' Survives Another Attack

ASX 200 Technical Analysis: 'Super Range' Survives Another Attack

2017-09-19 03:54:00
David Cottle, Analyst
Share:

Talking Points

  • The ASX 200’s well established range was under some downside threat recently
  • However, it survived that foray lower and now looks as entrenched as ever
  • There are no clear signs of any serious short-term threat

Just getting started in the trading world? Our beginners’ guide is here to help

The ASX 200 remains in jail, and its sentence looks as indeterminate as ever.

When I last took a look at the index, the base of the very narrow, 160-point range which has essentially contained all the trading action since May was coming under a bit of pressure. However last week’s sharp revival of risk appetite saw the base successfully defended yet again, and the endurance of that range. Indeed, it never came under any serious attack, even though it looked as though it might, at last, for a while there.

And so, as we move into the year’s final three months, is there any prospect of a range break, either way? Well, not obviously so.

ASX 200 Technical Analysis: 'Super Range' Survives Another Attack

Indeed, as if to vex us further the ASX is at the time of writing almost exactly in the middle of that range, with neither momentum indicators or moving averages telegraphing any meaningful clues. For the moment, it seems that the bulls have the table and that a modest uptrend from August 29’s intraday low point is still in play.

But, given all of the above, it would be a very brave investor who would ride this much higher than the 5768-5799 region where the last two forays higher have petered out.

ASX 200 Technical Analysis: 'Super Range' Survives Another Attack

This extraordinarily narrow range does exert a grim fascination and it will only become more interesting if it looks as though it will endure into year end. However, in the absence of any clear technical signal suggesting a break in either direction, it still looks as though those scant, 160 points or so are really all investors have to conjure with.

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter: @DavidCottleFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES