Aussie Banks + a few others

The ‘Big Four’ Aussie banks have reacted negatively to the new Government Bank levy and this is reflected in recent price action. Here’s what I’m seeing on their charts and the levels I’d look at for any potential support should the sell-off continue.

ANZ weekly: watch for any continued pullback to possibly target the 61.8% Fibonacci level near $26 which is also previous S/R.

ANZweekly

CBA weekly: watch for any continued pullback to possibly target the 61.8% Fibonacci level near $76.50.

CBAweekly

NAB weekly: watch for any continued pullback to possibly target the 61.8% Fibonacci level near $28 which is also previous S/R.

nabweekly

WBC weekly: watch for any continued pullback to possibly target the 61.8% Fibonacci level near $31 which is also previous S/R.

WBCweekly

Some Others:

DMP weekly: watch the Flag pattern and trend lines but, any hold below the Ichimoku Cloud and move back below $60 would be bearish and possibly support a deeper pullback. If so, watch the 61.8% Fib near $33:

DMPweeklyDMPweeklyCloud

FLN weekly: a bullish breakout from the descending wedge so watch for any continuation:

FLNweekly

FMG weekly: watch to see if the 61.8% Fib near $4 helps to stem this slide at all:

FMGweekly

 

 

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