Australia’s ASX 200 index displays stubborn resistance at 4300, but rising 13-week Twiggs Money Flow indicates buying pressure. Upward breakout would signal a primary up-trend, with an initial target of 4650 and a long-term target of 4950*. The right-angled broadening pattern reflects weak support and downward breakout would test primary support at 4000.
* Target calculation: 4400 + ( 4400 – 3850 ) = 4950
I wonder when it will get back to its highest high as history shows us that it will one day.