Emerging Channel Down pattern in its final wave was identified on the ASX 225 1 hour chart. After a strong bullish run, we find ASX 225 heading towards the upper triangle line with a possible resistance at 8498.1525. If the resistance shows to hold, the Channel Down pattern suggests a rebound back towards current levels.
Target: 8498.1525 Entry: 8476.8 Stop: 8455
Approaching Support level of 1.7629 identified at 11/6 04:30. This pattern is still in the process of forming. Possible bearish price movement towards the support 1.7629 within the next 1
DOW 30 has broken through a resistance line. Because we have seen it retrace from this price in the past, one should wait for confirmation of the breakout before trading.
A strong resistance level has been breached at 40545.9414 on the 4 hour DOW 30 chart. Technical Analysis theory forecasts a movement to 41437.6172 in the next 2 days. Supported