The ASX-200 index, the XJO, has made its first monthly close above the pre-Global Financial Crisis (GFC 2007-2009) High level of 6,851.50. The index closed for the month of January at 7,017.20 meaning it has also closed above the psychological and whole-number level of 7,000. Technical analysts will often note how ‘old Resistance becomes new […]

The ASX-200 has raced up through 7,000 resistance in much the same way that kids escape school on the last day of term; with vigour! Check out the daily candle: it is called a Marubozu and reflects strong buying pressure given the solid candle with no obvious upper or lower wick. Buyers came in early […]

Here are some ASX stock charts with patterns holding interest for me.

The ASX-200 index is sniffing new territory as it finally made a weekly candle close above the pre-Global Financial Crisis High of 6,851.50 and above the recent all time intra-day High level of 6,893.70. The index closed at 6,929 and, whilst one swallow does not a summer maketh, this is an impressive close and traders […]

Oil and USO have been in general decline since the 2008 Global Financial Crisis period but might be worth watching for any mean-reversion activity. Oil has spent much of the last two years chopping around either side of the $60 S/R level but is now starting to look a bit bullish as it holds above […]