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Aus200 short term/ intraday opportunity


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11 minutes ago, MongiIG said:

Thanks for sharing @RomPathsSwap

Is it time to buy AUS200 at those levels or you still see some downside ?

 

All the best - MongiIG

It's for the first time in months when fell below the last support, there must be something that I am missing, perhaps crude Oil price is the key! 

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6 minutes ago, RomPathsSwap said:

It's for the first time in months when fell below the last support, there must be something that I am missing, perhaps crude Oil price is the key! 

Thanks @RomPathsSwap do you think Australian stocks are the most "oil-neutral" among other considered indexes ? Is the correlation weak between ASX 200 and oil in your view.

Thanks - MongiIG

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2 hours ago, MongiIG said:

Is it time to buy AUS200 at those levels or you still see some downside ?

ASX 200 at Risk.

Jun 10, 2022 | DailyFX
Daniel Dubrovsky, Strategist

Australia stocks higher at close of trade; S&P/ASX 200 up 0.37% By  Investing.com

  • Australia’s ASX 200 vulnerable to Chinese lockdowns, slowing global growth.

 

FRIDAY’S ASIA PACIFIC TRADING SESSION – CHINESE INFLATION
The quite pessimistic session on Wall Street is leaving the door open for an extension during Friday’s Asia-Pacific trading session. Australia’s ASX 200 index could be particularly vulnerable as China recently resumed locking down as part of Xi Jinping’s “Zero-Covid” policy. The world’s second-largest economy will also be releasing its latest inflationary figures.

Headline CPI is seen ticking higher to 2.2% y/y in May from 2.1% prior. Prices at the factory though are seen weakening to 6.4% y/y from 8.0%. This is leaving the PBOC in a tricky situation as the country employs a stimulatory policy. Softer outcomes could boost sentiment if that means further measures, but markets also have to contend with US CPI over the remaining 24 hours.


ASX 200 TECHNICAL ANALYSIS
The ASX 200 has fallen over 4.6% from the May 30th high, placing the index closer to a fairly wide zone of support that has been holding for over a year. This is the 6747 – 6894 range, which could remain in play and help pivot prices higher. That would still leave the ASX in a broadly consolidative state, with resistance above at 7609 - 7650.

ASX 200 4-HOUR CHART

Nasdaq 100 Sinks as ECB Turns More Hawkish. ASX 200 at Risk, Eyeing China CPI Data

Chart Created in TradingView

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2 hours ago, MongiIG said:

Thanks @RomPathsSwap do you think Australian stocks are the most "oil-neutral" among other considered indexes ? Is the correlation weak between ASX 200 and oil in your view.

Thanks - MongiIG

There's a difference between carbon neutral and oil neutral, Oil has been driving economies for more than 100 years...I only gather information that I need, (economic calendar), the companies may change in Asx 200, like Ftse 100 and all the others...

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8 hours ago, RomPathsSwap said:

There's a difference between carbon neutral and oil neutral, Oil has been driving economies for more than 100 years...I only gather information that I need, (economic calendar), the companies may change in Asx 200, like Ftse 100 and all the others...

 

Capture asx.PNG

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Australian Dollar Dive as Chance for 75-BPS Fed Hike Spooks Market

 

AUD/USD: Australian Dollar boosted by anticipated rate rises | IG South  Africa

 

Australian stock markets are set to start trading after an extended holiday weekend, and a move lower is likely, given the broader market sentiment.

This morning, food inflation in New Zealand rose 6.8% on a year-over-year basis in May. That was up from April’s +6.4% y/y increase. Australia is set to report its first-quarter house price index at 01:30 GMT. Analysts expect to see that figure cross the wires at +1.4% on a quarter-over-quarter basis, down from 4.7% q/q. Australia’s May business confidence survey from National Australia Bank (NAB) is also due out. Japan’s industrial production for April will see a final update, and China’s foreign direct investment (FDI) data for May is expected to wrap the economic docket for the day.

Jun 14, 2022 | DailyFX
Thomas Westwater, Analyst

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7 hours ago, phillo said:

 

ASX

The top 200 companies on the Australian stock exchange plunged by just over 5% when the market returned from the Queen’s birthday long weekend, the biggest fall since March 2020.

The ASX 200 has now plunged over 11% from the early days of the year, erasing all the gains during the calendar year of 2021. All 11 sectors suffered heavy losses, including a 7% drop in the tech sector, 6% in mining, and more than 4% in the banking sector.

The panic sell-off reflects the heightened concern in the market that induced the traders to reprice the risk of a US recession and its catastrophic consequence to the global economy.

The daily chart shows that the ASX is now seeking support from the level in Feb 2021 at 6550. The next key level to keep a close eye on will be around 6312, a level that will bring the Australian stock market back to where it was two years ago, before the market crashed due to the pandemic.

1655206297533.JPGSource: IG
 
 
Hebe Chen | Market Analyst, Melbourne | Publication date: Tuesday 14 June 2022
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ASX200 will enter a "steadying" phase as of tororrow (16/6/22). This will be an opportunity to chance a preemptive trade provided it's done at a very low price.
No entry signal present though.

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On 15/06/2022 at 09:52, Hustler said:

ASX200 will enter a "steadying" phase as of tororrow (16/6/22). This will be an opportunity to chance a preemptive trade provided it's done at a very low price.
No entry signal present though.

It's likely to continue its downtrend as a 'long term' trading idea... 

2010929836_Australia200Cash(GBP1)_20220618_23_55.thumb.png.ce9a76995c71b777396308933148fa7c.png

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My money says that the ASX will turn up today (20/6/22). 
Both the ASX and S&P500 have entered an momentary "Spell" - probably "trying to find their feet (bottom)".

Time will tell and the market will have the final say :) 

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