ASX 200 support weakens

The ASX 200 Index is headed for another test of support at 4000. Volumes are far lower than the previous week, indicating a scarcity of buyers. Unless there is a significant upsurge on Tuesday, we are likely to see a downward breakout, offering a target of 3500*.

ASX 200 Index

* Target calculation: 4000 – ( 4500 – 4000 ) = 3500