Finspiration Australia: Chart Analysis for Australian and International Stock Markets.

20/8/22.  Yesterday in Australia. 

XJO continues to respect the 200-Day MA as resistance.

The first crack is appearing in the Indicators with MACD Histogram below zero.

Short and Medium Term trends remain up, with plenty of support near-by. 

XJO finished at 7114.5 up just 0.02% - essentially flat.

Nearby supports:

    Conversion Line: 7061.6.

    Top Edge of Kumo Cloud:  6888.

    Base Line:  6837.4

    Lower Edge of Kumo Cloud:  6706.

    A congestion zone lies around the 6600 level.

Given events in America overnight, tests of those levels are likely to begin on Monday.

Overnight in America.

Dow Jones -0.86%.  SP500 -1.29%.  Nasdaq -2.01%.  Small Caps -1.79%.  Banks -1.95%.

SP500.

SP500 is falling away from reistance of the 200-Day MA.

Indicators are turning bearish.  MACD Histogram has broken below the zero line.  Stochastic is below its 80 line.  If RSI falls below 50 - that would give a medium term sell signal.  Currently RSI is at 61.26 and falling.

Supports are:

    Conversion Line:  4218.7.  SP500 finished at 4228.5.

    Base Line:  4071.2.

    Top Edge of Kumo Cloud:  3972.3.

    Lower Edge of Kumo Cloud:  3860.4

    Congestion Zones lie around 4107 and 3960.

Conversion Line is likely to fall, but Base Line might provide solid support.

Commodities.

Commodities Index -0.04%.  Energy +0.00%.  Base Metals +0.2%.  Agriculture +0.95%.  Gold -0.73%.