It can be useful to monitor several renditions of the same market, in order to identify higher probability support and resistance levels. And I would personally argue this becomes the more important if one trades CFDs exclusively.
Today I am comparing the ASX 200 cash market (XJO) and ASX 200 futures market (SPI 200, or AP1!) alongside the forem.com AUS200 CFD.
All three markets are approaching a key resistance cluster around 8,000. Neither the cash market nor futures market has broken above 8,000 yet and have several resistance levels (including a 61.8% Fibonacci ratio while the March low and December high) remain unbreached. Also note that futures volumes have been declining while prices rise, which shows a lack of bullish initiation (and also points to a short-covering rally).
Therefore, my bias is to fade into moves on the AUS200 should it breach its own 8,000, with the short bias becoming invalidated with a break above the 61.8% Fib level.
Matt Simpson, Market Analyst at City Index and Forex.com
Today I am comparing the ASX 200 cash market (XJO) and ASX 200 futures market (SPI 200, or AP1!) alongside the forem.com AUS200 CFD.
All three markets are approaching a key resistance cluster around 8,000. Neither the cash market nor futures market has broken above 8,000 yet and have several resistance levels (including a 61.8% Fibonacci ratio while the March low and December high) remain unbreached. Also note that futures volumes have been declining while prices rise, which shows a lack of bullish initiation (and also points to a short-covering rally).
Therefore, my bias is to fade into moves on the AUS200 should it breach its own 8,000, with the short bias becoming invalidated with a break above the 61.8% Fib level.
Matt Simpson, Market Analyst at City Index and Forex.com
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これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。