Asia consolidated today and the ASX 200 was no exception, rallying off short-term support at 4020. Declining 21-day Twiggs Money Flow continues to warn of medium-term selling pressure. Respect of resistance at 4150 would indicate a test of primary support at 3980/4000. Failure of support would offer a target of 3600*.
* Target calculation: 4000 – ( 4400 – 4000 ) = 3600
Colin,
Thank you for your measured comments which indicate the possibilities of a move either way even though I am leaning towards the down hill direction.
Brian
I am also leaning downhill but will wait until the move starts.