Technical Update - ASX 200
Kim Cramer Larsson
Technical Analyst, Saxo Bank
ASX200 bounced off a few points above 0.618 Fibonacci retracement at 7,22 and more importantly above key resistance at 7,356.
Friday it closed previous support now minor resistance at around 7,437. If ASX closes above the very short term 0.618 retracement at 7,475 the Index is very likely to test previous highs.
If dropping back below 7,356 selling pressure will likely resume .
Medium term the uptrend is still intact. Needs to close below 7,233 to reverse. However, RSI seems to struggle to get back above 60 threshold which is a sign of some weakness. To confirm uptrend RSI needs to close above 60 threshold.
Quarterly Outlook Q2 2022
Quarterly Outlook Q2 2022: The End Game has arrived
- Shocks from covid and the war in Ukraine have forced the global financial and political world to change, but what will the end game be?
Productivity and innovation have never been more importantAs the world economy hits physical limits and central banks tighten their belts, could equities be facing a 10-15% downside?
The great EUR recovery and the difficulty of trading itIf the terrible fog of war hopefully lifts soon, the conditions are promising for the euro to reprice significantly higher.
Tight commodity markets – turbocharged by war and sanctionsWith supply already tight, commodities keep powering on. But will it last for yet another quarter?
Between a rock and a hard placeGeopolitical concerns will add upward price pressures and fears of slower growth, while volatility will remain elevated.
The Great ErosionInflation is everywhere and central banks try to combat it. But will they get it under control in time?
Australian investing: Six considerations amid triple Rs: rising rates, record inflation and likely recessionWhile global financial markets are struggling in an uncertain world, the commodity-heavy Australian ASX index is poised to keep a positive momentum.
Cybersecurity – the rush to catch up with realityWith the invasion of Ukraine, governments and private companies are rushing to reinforce their cyber defenses.