Australia: ASX 200 consolidation

Asia consolidated today and the ASX 200 was no exception, rallying off short-term support at 4020. Declining 21-day Twiggs Money Flow continues to warn of medium-term selling pressure. Respect of resistance at 4150 would indicate a test of primary support at 3980/4000.  Failure of support would offer a target of 3600*.

ASX 200 Index

* Target calculation: 4000 – ( 4400 – 4000 ) = 3600

2 thoughts on “Australia: ASX 200 consolidation

  1. Brian Mills says:

    Colin,

    Thank you for your measured comments which indicate the possibilities of a move either way even though I am leaning towards the down hill direction.

    Brian

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