In this morning's West Australian, Dr Shane Oliver, AMP chief economist, is quoted as saying:
"From a technical perspective both global and Australian shares are looking overbought after their strong rally from mid-March and they are now up against technical resistance associated with their trailing 200-day moving averages."
A question: Is a 200 day MA a period of time more likely to be emphasised and used by "longer term" traders?
[I'm assuming that most analysts use a variety of periods but am wondering whether shorter-term or day traders place their greater emphasis on a much shorter MA period].
Comments very wlecome and appreciated.