The ASX 200 is headed for another test of support at 4000. Declining volume displays no evidence of bargain-buying. Failure of support is likely and would offer a target of 3500*.
* Target calculation: 4000 – ( 4500 – 4000 ) = 3500
3 Replies to “ASX 200 threatens support”
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yes.. i beleive so as per current global economy.. The index is seeking for a lower trading range.. 4400 be a resistance level.. 3800-4400.. The Dow be 9200-10,500 even lower to 8700-10,000 if looking at the yield is so cheap on 50 years Treasury Note. It meant that the economy in USA will hardly pick up in next 30-50 years!!
ASX volume 2.3B today – bargain buying?
All Ords shows 1.27B today — nothing special.