Today's interesting charts
Comment of the Day

March 21 2013

Commentary by David Fuller

Today's interesting charts

Price charts alert us to changes of potential significance, whatever their causes.

David Fuller's view Vietnam's SE Index (weekly & daily) is steady within a large potential base formation and approaching prior and psychological resistance near 500. On the last test of this level in February, sharp downward dynamics checked the rally. However we now have some support near 460, and this would have to be broken to reaffirm significant resistance near current levels.

Australia's S&P ASX200 (weekly & daily) has lost upside momentum near prior resistance in the 5,000 region and this week's downward dynamic indicates scope for further mean reversion towards the rising MA before higher levels are seen.

The UK's FTSE 100 (weekly & daily) has seen a slowing of upside momentum since the beginning of February and it is susceptible to some sideways to lower mean reversion towards its rising MA. However, provided it finds support above 6,000 during a reaction and consolidation phase, the medium-term outlook will remain bullish. Meanwhile, the FTSE 350 Banks Index (weekly & daily) is now leading to the downside

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