The ASX 200 retracement respected support at 5540/5560. Breakout above 5590 would confirm an intermediate target of 5700* for the advance. Rising 21-day Twiggs Money Flow indicates medium-term buying pressure. Reversal below 5540 is unlikely, but would warn of a correction.
* Target calculation: 5540 + ( 5540 – 5380 ) = 5700
Hello Colin,
I never see many comments to your briefings, but I would like to express my appreciation for your posts. I may not always agree, but I do look forward to reading them … if only to provide confirmation (or not) to my own views. Your language is straight forward and easy to read and more often than not, your comments prove unerringly correct.
Please continue with your efforts, and perhaps, you may be able to include a random ASX200 stock as a side exhibit.
Thank you and best regards,
Murray Cooper
You’re right Murry, I follow his post and most of the time he proved right. He is only one of them, who I believe in for providing credible analysis.
Thank you Manish & Murray. I appreciate your support.
Peter Valentine also agrees. It is uncommon to see so much substance and so little embellishment.
Thank you Peter
Colin,
Thank you so much for your straight to the point analysis easy to understand charts and comment,
Geoff
Thank you Geoff. Glad to know readers find it useful.