Australia’s ASX 200 opened with a strong blue candle on the hourly chart but is now retracing to find support. Respect of short-term support at 4290 would suggest follow-through to 4320, while failure would test medium-term support at 4240/4250.
Breakout above 4320 would indicate another test of 4400. Though we are unlikely to see a primary up-trend until China signals that it has formed a bottom.
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.
Hi Colin,
Please we would like to have an analysis of Ibovespa from you.
It’s very interesting your T.M.Oscillator.
Yours sincerely,
Manoel S. de Barros Neto
PS: Please do not forget the Bovespa in your analysis