The ASX 200 broke down below its recent consolidation, signaling another test of support at 5600. There is no indication on Twiggs Money Flow of unusual selling pressure and at present I expect support to hold.
* Target medium-term: 5800 + ( 5800 – 5600 ) = 6000
Thank you Colin, as always I appreciate your thoughts. The materials and mining giants, RIO & BHP have seen some fairly heavy selling in recent days, and that selling continued overnight in the US & Europe. If you see anything of interest on the XMM index, or on RIO & BHP it may be of interest to your followers (and myself).
Best regards,
Sam
Can’t comment on individual stocks but I suggest that you take a look at 13-week Twiggs Money Flow on XMM.