The ASX 200 index is testing medium-term support at 4150. Bearish divergence on 21-day Twiggs Money Flow warns of selling pressure. Failure of support would test the primary level at 3850.
* Target calculation: 3900 – ( 4300 − 3900 ) = 3500
A weekly chart of the All Ords shows a primary down-trend. Failure of support at 4200 would test 3900. Completion of a peak below zero on 63-day Twiggs Momentum would suggest another decline.
* Target calculation: 4000 – ( 4500 − 4000 ) = 3500