Australia’s ASX 200 is testing medium-term support at 4250. Failure would indicate a correction to test primary support at 4000. Bearish divergence and reversal of 21-day Twiggs Money Flow below zero warn of medium-term selling pressure.
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 – the next line of support f0r ASX200 is actually around 4150 – where it touched today. From then on it is 4000.
This is looking ominous. Let’s hope that 4000 holds a bit longer.
Hi again Colin
We still have one month before the next Greek elections!!!!!
If 4000 doesn’t hold then next support is around 3860 and from there 3750 and finally 3200.
Cheers or should I say Good Luck
Barrie Turner