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CIA ~ Snapshot TA / Psychotic Yo-Yo YOLO (Weekly Chart)Title pretty much sums up Champion Iron's recent price action lol. Reminds me of similar movements exhibited in Mineral Resources chart before getting pumped after diversifying into Lithium. Held onto a trend-line that's been running since 2015, crazy. Appears ~$8 is established resistance level, as it continues to put in Higher Lows off trend-line while 200DMA climbs higher to act as dynamic support/confluence.. ASX:CIA ASX:MIN
ASX:CIALong
by BlueHatInvestor
Coal Futures ~ Snapshot TA / Neutral-Bullish AccumulationNewcastle Thermal Coal Futures breaking out of short-term downtrend + Neutral-Bullish Accumulation around 78.6% Fib Retracement. Still within larger downtrend after steep sell-off through later half of 2022 into 2023. (Coal) embers likely re-igniting due to recent China stimulus measures & other macro-economic influences, TBC. Highlighted preliminary Trading Range 174.05-129. On watch for further price action development &/or break out of range in either direction. Boost/Follow appreciated, cheers. Futures: ICEEUR:NCF1! ICEEUR:NCF2! ASX: ASX:WHC ASX:NHC ASX:YAL ASX:SMR ASX:TER
ICEEUR:NCF2!
by BlueHatInvestor
Iron Ore Futures ~ Snapshot TA / Coiling like a Steel RollIron Ore Futures coiling like a steel roll in a series of Lower Highs & Higher Lows since October 2022. Break above 116.60 = Bullish momentum towards 134.85 (38.2% Fib Retracement) Break below 99.40 = Bearish momentum towards 77.60 (78.6% Fib Extension) Seasonality typically favours the Bulls running strong into end of year - we'll see if it still rings true this year, given China's current economic woes.. Boost/Follow appreciated. Futures: SGX:FEF1! SGX:FEF2! COMEX:TIO1! COMEX:TIO2! ASX: ASX:BHP ASX:RIO ASX:FMG ASX:MIN ASX:CIA NYSE: NYSE:VALE
SGX:FEF2!Long
by BlueHatInvestor
What goes up comes downI am just not sure what has caused this extraordinary price drop, when apparently it was looking like it was just recovering from down trend - if anyone knows please comment . May be it’s just natural price correction in market, looking at today’s price action, buyers were able to take it up in first two hours up to $125.84, till that time it’s was all buyers hardly any sellers but later it’s was all sellers and price couldn’t hold and closed below opening price altogether 18.40% down. If this is just some weird correction without any fundamentals changing, then I think price should come down to round $105 range. Keeping a watch on this stock, leaving my notes here for community discussion. Please note it’s not a trading advise by any means, please do your own research.
ASX:DMPShort
by AsimMirzaTrader
5
The swing low could be in for the ASX 200 (XJO)The ASX 200 suffered its worst day in 10-week on the final day of May, thanks to weak China PMIs and month-end flows. The first day of June posted a very minor (almost sheepish) gain, but with a positive lead from Wall Street and SPI futures higher by ~0.66% overnight, the ASX is expected to extend its rise from the lows. The fact that the lows formed around a 61.8% Fibonacci ratio 7070 support level alongside a bullish RSI divergence could bode well for bulls over the near-term. From here the bias is bullish above last week's low and for a move to the 7200 area, within the channel. But as the channel appears to be corrective in nature then we also see the potential for it to head for (and break above) the 7300 highs. But as we're a period of the year notorious for fickle price action and lower trading volumes, traders might be wise to remain nimble and seek smaller moves unless a large macro theme arrives worthy of expecting broad-range expansion for global markets.
ASX:XJOLong
by CityIndex
ASX to find sellers at trend line?ASX200 - 24h expiry Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible. We are trading at overbought extremes. This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower. The hourly chart technicals suggests further upside before the downtrend returns. We look to sell rallies. We look to Sell at 7220 (stop at 7270) Our profit targets will be 7095 and 7065 Resistance: 7305 / 7435 / 7600 Support: 7120 / 7010 / 6825 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 in a trend of lower highs.ASX200 - 24h expiry - We look to Sell at 7210 (stop at 7260) Posted a Double Bottom formation. Neckline comes in at 7133. We are trading at overbought extremes. This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower. The 200 day moving average should provide resistance at 7210. Our profit targets will be 7085 and 7010 Resistance: 7215 / 7435 / 7600 Support: 7010 / 6825 / 6660 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: $SPQ) ASX:SPQ Potential move to Z2 (Zone 2), due to increasing bullish volume, interest from retail, and organisational bodies. I don't think we'll see major moves in share price until we get some interesting market news. Top 20 Holders have remained the same over the last 2 years, current price reduction represents retail investors cutting losses. Despite having positive market news in April, sophisticated investors did offload some of their shares, not for a huge profit, but in order to buy back in at a lower price. ASX:SPQ Recently raised $4M AUD to proceed with further drilling and exploration projects. Options have been released with an execution price of 0.06c before Nov 24. This can be viewed positively, as the company is confident in its short to medium term capability, and is expecting to please investors. The top 20 Holders own roughly 31% of market share, considering they have remained the same over the last 2 years, we can be confident that they aren't going to dump huge volume on us retail investors. We can use the RSI to visualise how the institutions are maintaining a level of support at this key level, hopefully pulling us out of this 3 stage downtrend. I'll try and update this Idea as we get more information from the company in this exciting time!
ASX:SPQLong
by boiledpeas
It could be now or never for ASX 200 bullsI suspect it could be a case of now or never for ASX bulls. Whilst it suffered its worst day in 9-weeks on Thursday, this could be part of an ABC correction and the 200-day MA is nearby as a probably support level, even if it breaks lower today. Futures markets shows heavy volume occurred around yesterday's lows (bears piled in around the lows) yet sentiment could rise if a debt ceiling deal is reached as reported, forcing a short-covering rally. Yesterday’s low sits around a 50% retracement and 61.8% projection level, and there is a volume cluster around 7122 during the strong rally which could provide support. Furthermore, RSI (2) is oversold. The bias is bullish above 7090 (below the 200-day MA) and for its next leg higher to begin.
ASX:XJOLong
by CityIndex
1
AU200 to see a temporary move higher?ASX200 - 24h expiry Previous support level of 7129 broken. Short term bias has turned negative. Preferred trade is to sell into rallies. The hourly chart technicals suggests further upside before the downtrend returns. Further downside is expected although we prefer to sell into rallies close to the 7190 level. We look to Sell at 7190 (stop at 7230) Our profit targets will be 7090 and 7010 Resistance: 7215 / 7305 / 7435 Support: 7010 / 6825 / 6660 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
Sympathy bounce for the ASX 200?Whilst prices are expected to open lower, we’re on guard for a small countertrend bounce. A bullish hammer formed on the daily chart at the lower Bollinger band which found support at the 50% retracement level and 200-day EMA. A bullish divergence has formed on the RSI (2) within the overbought zone. A break above yesterday’s high could potentially see it retest the 7275 low, or the monthly pivot point around 7300. If we managed to bounce that far, we'd then look for signs of weakness for a potential swing trade short, given weak sentiment for global stocks and the tendency for stocks to underperform around this year due to "sell in May and go away" seasonality. A break of yesterday’s low assumes bearish continuation.
ASX:XJOLong
by CityIndex
Shares - ASX - Paladin. Ascending triangle get longShares ASX - Paladin. Paladin appears to be bottoming out. Possible double bottom. So we have a reversal pattern as a starting point. We then started forming an ascending triangle with resistance at 0.66. RSI on the triangle is stronger suggesting the triangle should breakout to the upside. We have a dragonfly doji recently also suggesting bullish price action. RSI is higher as the triangle forms. Volume is low as the pattern forms especially on the sells. STO has dropped to 14 on the recent low so it is primed for a bounce. Entry. More risk adverse traders would enter on the break up of the 0.66 range. Less risk adverse traders enter at the bottom of the ascending triangle. Pretty much now. I bought now. Target 1 is 0.75. Stop loss 0.57. Current price is 0.615.
ASX:PDNLong
by thecryptochart