The ASX 200 is testing its new support level at 5600. Rising Twiggs Money Flow indicates medium-term buying pressure. Respect of 5600 is likely and would signal an advance to 6000*.
* Target medium-term: 5800 + ( 5800 – 5600 ) = 6000
Small cap stocks, represented by the ASX Small Ordinaries Index, are weaker, indicating the market remains risk-averse. Twiggs Money Flow below zero continues to indicate selling pressure.
