The ASX 200 found support above 5560 and is likely to re-test resistance between 5640 and 5680. Breakout would signal an advance with a target of 5850*. Completion of another 21-day Twiggs Money Flow trough above zero would indicate renewed buying pressure. Reversal below 5540, however, would warn of a test of support between 5440 and 5500 (the rising trendline).
* Target calculation: 5650 + ( 5650 – 5450 ) = 5850
Readings for the ASX 200 VIX remain low, typical of a bull market.
