NIFTY 50, ASX200, COPPER, IRON ORE, BHP and RIO Technical Analysis Elliott Wave and Trading Levels.

ASX200 XJO
ASX200 Elliott Wave The move down from the top is in three waves, so it's bullish corrective, that said a larger correction can unfold, this correction would be part of the Flat family of corrections.
ASX200 TradingLevels: 6200 (61.80 as Price Ratio) as support or resistance will confirm the direction
ASX200 Trading Strategy: Long above 6223 and short with 6172 as the retested resistance.

NIFTY 50
Elliott Wave: Wave v)
TradingLevels: Waiting to confirm tested support on top of Minor Group 1 11,300 (MG1|11,300)
Trading Strategy: Long again when 11,372 becomes the retested resistance with Stop at 11,324.
Current Trailing stop is 11,276 with open target near the TradingLevels Medium Level (ML15|11,500) 11,500

 

As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.

Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.

The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD: bearish strength pointing to lower lows for the year

The EUR/USD pair extended its decline Friday to finish the week sharply lower in the 1.1150 region. The American currency stood victorious on the back of persistent concerns about US-Sino trade tensions and encouraging local data.

EUR/USD News

GBP/USD: political tensions knocked the Pound ANALYSIS | 14:48 GMT

The GBP/USD pair closed the week in the 1.2710 area, its lowest since mid-January, as the Pound plunged alongside Brexit cross-party talks, a "very negative development," as Irish PM Varadkar said. 

GBP/USD News

USD/JPY: corrective advance could extend up to 110.50

After advancing for a second consecutive day, the USD/JPY pair closed the week with modest gains just above the 110.00 figure, retreating from a daily high of 110.19. 

USD/JPY News

Bitcoin price update: BTC reclaims $7,000, recovery stalled

Bitcoin (BTC) has recovered from a scary flash crash that took it all the way down from $7,800 to as low as $6,512. The first digital coin lost about 16% of its value in a matter of hour with no particular reason .

Read more

Gold breaks to the downside hits 2-week lows near $1275

Gold prices accelerated to the downside today and particularly after the beginning of the American session, resuming the bearish move. The yellow metal is falling for the fourth day in-a-row and it is down almost $30 from the weekly high. 

Gold News

Majors

Cryptocurrencies

Signatures