S P/ ASX 200 INDEX - Daily - Technical analysis published on 06/06/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
17%
61%
22%
My opinion
Bearish under 7,357.83 AUD
My targets
6,904.94 AUD (-3.15%)
6,817.50 AUD (-4.38%)
My analysis
In the short term, we can see an acceleration in the bearish trend on S P/ ASX 200 INDEX, which is a positive signal for sellers. As long as the price remains above 7,357.83 AUD, a sale could be considered. The first bearish objective is located at 6,904.94 AUD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 6,817.50 AUD as an objective. Crossing it would then enable sellers to target 6,438.10 AUD. If the price were to return above 7,357.83 AUD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
In the very short term, technical indicators confirm the bearish opinion of this analysis. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to a small rebound in the opposite direction.
Force
0
10
5.4
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This analysis was given by Ferret. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The S P/ ASX 200 INDEX rating is 7,129.60 AUD. The price registered a decrease of -1.20% on the session and was between 7,125.90 AUD and 7,216.30 AUD. This implies that the price is at +0.05% from its lowest and at -1.20% from its highest.7,125.90
7,216.30
7,129.60
Here is a more detailed summary of the historical variations registered by S P/ ASX 200 INDEX:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this S P/ ASX 200 INDEX chart shows a bearish trend. 71.43% of the signals given by moving averages are bearish. This bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators market scanner is currently detecting several bearish signals that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : Daily
Bearish price crossover with adaptative moving average 100
Type : Bearish
Timeframe : Daily
The probability of a further decline is moderate given the direction of the technical indicators.
Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Daily
RSI indicator is back under 50
Type : Bearish
Timeframe : Daily
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 6,438.10 | 6,817.50 | 6,904.94 | 7,129.60 | 7,162.50 | 7,357.83 | 7,604.83 |
| Change (%) | -9.70% | -4.38% | -3.15% | - | +0.46% | +3.20% | +6.67% |
| Change | -691.50 | -312.10 | -224.66 | - | +32.90 | +228.23 | +475.23 |
| Level | Major | Minor | Major | - | Major | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,007.83 | 7,066.87 | 7,098.23 | 7,157.27 | 7,188.63 | 7,247.67 | 7,279.03 |
| Camarilla | 7,104.74 | 7,113.03 | 7,121.31 | 7,129.60 | 7,137.89 | 7,146.17 | 7,154.46 |
| Woodie | 6,994.00 | 7,059.95 | 7,084.40 | 7,150.35 | 7,174.80 | 7,240.75 | 7,265.20 |
| Fibonacci | 7,066.87 | 7,101.40 | 7,122.73 | 7,157.27 | 7,191.80 | 7,213.13 | 7,247.67 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6,886.83 | 6,982.37 | 7,063.73 | 7,159.27 | 7,240.63 | 7,336.17 | 7,417.53 |
| Camarilla | 7,096.45 | 7,112.67 | 7,128.88 | 7,145.10 | 7,161.32 | 7,177.53 | 7,193.75 |
| Woodie | 6,879.75 | 6,978.83 | 7,056.65 | 7,155.73 | 7,233.55 | 7,332.63 | 7,410.45 |
| Fibonacci | 6,982.37 | 7,049.94 | 7,091.69 | 7,159.27 | 7,226.84 | 7,268.59 | 7,336.17 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6,722.37 | 6,906.83 | 6,999.07 | 7,183.53 | 7,275.77 | 7,460.23 | 7,552.47 |
| Camarilla | 7,015.21 | 7,040.57 | 7,065.94 | 7,091.30 | 7,116.66 | 7,142.03 | 7,167.39 |
| Woodie | 6,676.25 | 6,883.78 | 6,952.95 | 7,160.48 | 7,229.65 | 7,437.18 | 7,506.35 |
| Fibonacci | 6,906.83 | 7,012.53 | 7,077.83 | 7,183.53 | 7,289.23 | 7,354.53 | 7,460.23 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 42.98 | |
| MACD (12,26,9): | -28.0100 | |
| Directional Movement: | -3.68 | |
| AROON (14): | -64.28 | |
| DEMA (21): | 7,162.38 | |
| Parabolic SAR (0,02-0,02-0,2): | 7,081.01 | |
| Elder Ray (13): | -7.78 | |
| Super Trend (3,10): | 7,276.90 | |
| Zig ZAG (10): | 7,129.60 | |
| VORTEX (21): | 0.9500 | |
| Stochastique (14,3,5): | 39.95 | |
| TEMA (21): | 7,139.65 | |
| Williams %R (14): | -75.92 | |
| Chande Momentum Oscillator (20): | -149.90 | |
| Repulse (5,40,3): | -0.9700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0400 | |
| Courbe Coppock: | 2.43 |
| MA7: | 7,159.97 | |
| MA20: | 7,206.57 | |
| MA50: | 7,223.46 | |
| MA100: | 7,273.24 | |
| MAexp7: | 7,161.31 | |
| MAexp20: | 7,194.96 | |
| MAexp50: | 7,220.62 | |
| MAexp100: | 7,210.18 | |
| Price / MA7: | -0.42% | |
| Price / MA20: | -1.07% | |
| Price / MA50: | -1.30% | |
| Price / MA100: | -1.97% | |
| Price / MAexp7: | -0.44% | |
| Price / MAexp20: | -0.91% | |
| Price / MAexp50: | -1.26% | |
| Price / MAexp100: | -1.12% |
Quotes :
-
End-of-day data
-
Australia Indices
This member declared not having a position on this financial instrument or a related financial instrument.
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