The ASX 200 rallied strongly after breaking resistance at 5020. Breach of the March high at 5150 is likely and would signal an advance to 5400*. A 21-day Twiggs Money Flow peak below zero would warn of strong selling pressure.
* Target calculation: 5150 + ( 5150 – 4900 ) = 5400
The monthly chart offers a long-term target of 6000*.
* Target calculation: 5000 + ( 5000 – 4000 ) = 6000