The ASX 200 is once again testing resistance at 5540/5560. Oscillation of 21-day Twiggs Money Flow around zero indicates hesitancy, but tall blue candles followed by short red candles suggests continuation of the rally. Breakout above 5560 would offer a target of 5700*. Reversal below 5450 is unlikely but would mean all bets are off and another test of support at 5370 is on the cards.
* Target calculation: 5550 + ( 5550 – 5400 ) = 5700
ASX 200 VIX close to 10 indicates low risk typical of a bull market.
