Sydney (SYDNEY.NDX)

Short term

Sydney has broken through the floor of a rising trend channel in the short term. This indicates a slower rising rate at first, or the start of a more horizontal development. The index has broken up through resistance at points 8450. This predicts a further rise. In case of negative reactions, there will now be support at points 8450. The RSI curve shows a falling trend, which could be an early signal of the start of a falling trend for the price as well. The index is overall assessed as technically positive for the short term.

Recommendation one to six weeks: Positive

Medium term

Investors have paid higher prices over time to buy Sydney and the index is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The index has support at points 8150 and resistance at points 8750. The RSI curve shows a falling trend, which is an early signal of a possible trend reversal downwards for the price as well. The index is overall assessed as technically slightly positive for the medium long term.

Recommendation one to six months: Weak Positive

Long term

Sydney is in a rising trend channel in the long term. Rising trends indicate that the market experiences positive development and that buy interest among investors is increasing. The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 7591. The objective at 8302 is now met, but the formation still gives a signal in the same direction. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the index has support at approximately 7840 points. Trading volume has increased substantially lately. This shows there is an increased interest for the index, possibly because of fundamental news. The index is overall assessed as technically positive for the long term.

Recommendation one to six quarters: Positive