The ASX 200 met resistance at 4400. Short retracement or narrow consolidation would be a bullish sign, suggesting a breakout. Oscillation of 63-day Twiggs Momentum around the zero line, however, would suggest a ranging market, with further tests of primary support at 4000.
The Daily chart shows the ASX 200 testing the upper border of its trend channel. Bearish divergence on 21-day Twiggs Money Flow warns of medium-term selling pressure; reversal below zero would strengthen the signal. Failure of initial support at 4320 would indicate a swing to the lower trend channel.
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.
hello, my friend…i think the big resistance is on eurusd…tell us how you can see it for the next period(week, months)…your opinion is not an investement advice…it’s just your opinion about eurusd trading…
thanks anyway!
The key is long-term support at $1.20. Failure would be a game-changer.