Potential outside week and bullish potential for RMSEntry conditions:
(i) higher share price for ASX:RMS above the level of the potential outside week noted on 31st January (i.e.: above the level of $2.48).
Stop loss for the trade would be:
(i) below the low of the outside week on 28th January (i.e.: below $2.26), should the trade activate.
ASX
Bearish potential detected for IREEntry conditions:
(i) lower share price for ASX:IRE along with swing up of the DMI indicators and swing down of the RSI indicator, and
(ii) observation of market reaction at the support level at $9.03.
Stop loss for the trade would be:
(i) above the resistance level from the open of 9th September (i.e.: above $9.36), or
(ii) above the resistance level from the open of 21st August (i.e.: above $9.65), depending on risk tolerance.
Potential outside week and bullish potential for AMIEntry conditions:
(i) higher share price for ASX:AMI above the level of the potential outside week noted on 30th/31st January (i.e.: above the level of $0.20).
Stop loss for the trade would be:
(i) below the low of the outside week on 29th January (i.e.: below $0.17), should the trade activate.
Potential outside week and bullish potential for OCCEntry conditions:
(i) higher share price for ASX:OCC above the level of the potential outside week noted on 23rd January (i.e.: above the level of $1.635).
Stop loss for the trade would be:
(i) below the low of the outside week on 20th January (i.e.: below $1.27), should the trade activate.
Bearish potential detected for WPREntry conditions:
(i) lower share price for ASX:WPR along with swing up of the DMI indicators and swing down of the RSI indicator, and
(ii) observation of market reaction at the support level at $2.34.
Stop loss for the trade would be:
(i) above the resistance level from the open of 12th December (i.e.: above $2.42), or
(ii) above the resistance level from the open of 27th December (i.e.: above $2.47), depending on risk tolerance.
Bullish potential detected for LRKEntry conditions:
(i) higher share price for ASX:LRK along with swing up of indicators such as DMI/RSI.
Stop loss for the trade would be:
(i) below the support level from the open of 5th December (i.e.: below $0.985), or
(ii) below the support level from the open of 27th September (i.e.: below $0.96), depending on risk tolerance.
ASX 200 Futures: Finding a Signal Amid the NoiseWe're sandwiched between an incoming NFP report and the turbulence from Trump's tariffs. That could provide a double dose of 'fickle' price action, which we tend to see leading up to big events such as nonfarm payrolls or Fed meetings. With that in mind, I update my bearish bias on ASX 200 futures, using the intraday timeframe and a glance at Wall Street indices.
Matt Simpson, Market Analyst at City Index and Forex.com
Potential outside week and bullish potential for AUZEntry conditions:
(i) higher share price for ASX:AUZ above the level of the potential outside week noted on 10th January (i.e.: above the level of $0.016).
Stop loss for the trade would be:
(i) below the low of the outside week on 7th January (i.e.: below $0.008), should the trade activate.
Bullish potential detected for AIZEntry conditions:
(i) higher share price for ASX:AIZ along with swing up of indicators such as DMI/RSI.
Stop loss for the trade would be:
(i) below the support level from the open of 29th November (i.e.: below $0.51), or
(ii) below the support level from the open of 7th November (i.e.: below $0.49), depending on risk tolerance.
ASX 200: Why I'm not banking on [an immediate] record highThe ASX 200 cash market is tantalisingly close to retesting its record high set in December. Traders are betting on an RBA cut in February (and 100bp of cuts this year) which is helping to support the market. Yet I doubt the ASX will simply break to a new high without a fresh catalyst. Comparing the ASX 200 cash and futures market and their key levels, I explain why.
Matt Simpson, Market Analyst at City Index and Forex.com
Potential outside week and bullish potential for OPTEntry conditions:
(i) higher share price for ASX:OPT above the level of the potential outside week noted on 17th January (i.e.: above the level of $0.85).
Stop loss for the trade would be:
(i) below the low of the outside week on 13th/16th January (i.e.: below $0.725), should the trade activate.
Potential outside week and bullish potential for HLIEntry conditions:
(i) higher share price for ASX:HLI above the level of the potential outside week noted on 17th January (i.e.: above the level of $4.65).
Stop loss for the trade would be:
(i) below the low of the outside week on 13th January (i.e.: below $4.44), should the trade activate.
Bearish potential detected for IREEntry conditions:
(i) lower share price for ASX:IRE along with swing up of the DMI indicators and swing down of the RSI indicator, and
(ii) observation of market reaction at the support level at $9.10 (open from 13th December).
Stop loss for the trade would be:
(i) above the resistance level from the open of 9th September (i.e.: above $9.36), or
(ii) above the resistance level from the open of 21st August (i.e.: above $9.65), depending on risk tolerance.
Potential key reversal top detected for WBTLevel of interest: Prior support/resistance levels in the past of $3.04 (09-Aug-2022) and $3.75 (12-Dec-2022) (key support/resistance areas to observe).
Await signals for entry such as DMI/ADX and/or RSI swing to the bearish direction, and observe market reaction to support/resistance area at $3.04 to confirm.
Stop loss for the trade involving ASX:WBT (and indication that this trade is an absolute 'no-go') is any trade above the high of the signal day of 2nd January (i.e.: any trade above $3.80).
Potential outside week and bullish potential for PBHEntry conditions:
(i) higher share price for ASX:PBH above the level of the potential outside week noted on 20th December (i.e.: above the level of $1.045).
Stop loss for the trade would be:
(i) below the low of the outside week on 16th December (i.e.: below $0.925), should the trade activate.
ASX futures tease bearish with a potential swing highSanta's rally put in a poor performance this year. ASX futures sold off into Christmas before the 200-day SMA and 8000 handle came before the market eked out a weak comeback into the new year. Yet price action on the daily chart suggests we could be approaching a swing high.
It appears we're in a third wave higher from 8000, yet momentum lacks the legs of the initial bounce to suggest an ABC correction could be nearing an end. The 50-day SMA has so far capped today's rally and could leave a bearish pinbar should it close the day around current levels. A multi-week bearish divergence has formed on the RSI (14) and the daily RSI (2) is approaching overbought.
The bias is to fade into moves towards the 50-day SMA and target the November low. But if appetite for risk truly sours, we could see prices break beneath the 200-day SMA and 8000 level and head for the lower trendline of the rising channel.
MS
Bullish potential detected for QUBEntry conditions:
(i) breach of the upper confines of the Darvas box formation for ASX:QUB
- i.e.: above high of $4.04 of 28th November (most conservative entry), or
(ii) swing up of indicators such as DMI/RSI along with a test of prior level of $4.00 from 25th November.
Stop loss for the trade (based upon the Darvas box formation) would be:
(i) below the support level from the low of 13th December (i.e.: below $3.80).
Potential key reversal top detected for GMGLevel of interest: $36.67 area level of interest proved problematic on 22nd July (key support/resistance area to observe). Observe market reaction around this level of interest.
Stop loss for the trade involving ASX:GMG (and indication that this trade is an absolute 'no-go') is any trade above the high of the signal day of 10th December (i.e.: any trade above $39.43).
ASX dragged lower by the DowThe Dow Jones futures market fell for an 8th consecutive day on Monday, a bearish sequence not seen in over 12 years. And that's not good news for ASX 200 bulls, as the index tends to track the Dow very closely.
The daily chart looks like it wants to head to 8200, and it just 1 - 2 bearish trading days away from it looking at a typical day's range. The 1-hour trend has favoured bearish swing traders, who could seek to fade into moves towards the 20-50 hour EMAs.
Potential key reversal bottom detected for WORLevel of interest: Prior support/resistance levels in the past of $13.32 (17-Oct-2022) and $12.92 (10-Oct-2022) (key support/resistance areas to observe).
Await signals for entry such as DMI/ADX and/or RSI swing to the bullish direction.
Stop loss for the trade involving ASX:WOR (and indication that this trade is an absolute 'no-go') is any trade below the low of the signal day of 4th December (i.e.: any trade below $13.16).
Bullish potential detected for MAHEntry conditions:
(i) higher share price for ASX:MAH along with swing up of indicators such as DMI/RSI.
Stop loss for the trade would be:
(i) below the support level from the open of 9th September (i.e.: below $0.315), or
(ii) below the support level from the open of 19th July (i.e.: below $0.295), depending on risk tolerance.