Technical Indicators and some trading ideas for next days

After a period of high volatility, the volatility in the last two days has decreased a bit. Also the lower volatility came with an increase in volume that might signal that a low is now in place.

We are looking below at the Daily candle charts complimented by the MACD indicator and Stochastic and trying to read their signals.

What are the levels that we should be watching?

For ASX 200 a close above 200 m.a. currently at 5430 would be bullish, but before that there is resistance at 5355 to 5388. Also, MACD has a positive cross and Stochastic indicator has divergence.



CBA has a positive cross in MACD and Stoch divergence. 200 m.a. is at $78.57 level close to 50% Fibonacci at $78.06.


BHP looks weak though. It has a MACD divergence but not signal yet. Resistance at $34.22 then $36 (50% Fibonacci).