{"id":15263,"date":"2017-05-12T19:01:41","date_gmt":"2017-05-12T23:01:41","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=15263"},"modified":"2017-05-12T19:01:41","modified_gmt":"2017-05-12T23:01:41","slug":"asx-200-bearish-consolidation","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/12\/asx-200-bearish-consolidation\/","title":{"rendered":"ASX 200 bearish consolidation"},"content":{"rendered":"<p>The big banks fell sharply on news of a new levy on bank liabilities in the latest budget. At this stage the ASX 300 Banks Index merely shows a secondary reaction. Breach of 8500, however, would signal a primary trend reversal, offering a medium-term target of 8000*.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"ASX 300 Banks\" alt=\"ASX 300 Banks\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-05-12-xbak.png?w=525&#038;ssl=1\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;color:#999999;\">* Target: 8500 &#8211; ( 9000 &#8211; 8500 ) = 8000<\/p>\n<p>Resources stocks compensated, with the ASX 300 Metals &amp; Mining Index rallying to test resistance at 2850\/2900. Breakout is unlikely given the weak lead from iron ore. Reversal below 2700 remains likely and would strengthen the bear signal for resources.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"ASX 300 Metals &amp; Mining\" alt=\"ASX 300 Metals &amp; Mining\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-05-12-xmm.png?w=525&#038;ssl=1\" \/><\/p>\n<p>Iron ore formed a bearish consolidation above support at $60. Breach would offer a short-term target of $50*.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"Iron ore\" alt=\"Iron ore\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-05-12-tr.png?w=525&#038;ssl=1\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;color:#999999;\">* Target: 60 &#8211; ( 70 &#8211; 60 ) = 50<\/p>\n<p>Selling of the Aussie Dollar continues, with a medium-term test of primary support at 71.50\/72.00 now likely.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"Aussie Dollar\" alt=\"Aussie Dollar\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-05-12-audusd.png?w=525&#038;ssl=1\" \/><\/p>\n<p>Consolidation of the ASX 200 above support at 5800 is a bearish pattern. Breach would signal a correction to test primary support at 5600*. Twiggs Money Flow still indicates long-term buying pressure and only a fall below zero would warn of a reversal.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" title=\"ASX 200\" alt=\"ASX 200\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2017\/2017-05-12-xjo.png?w=525&#038;ssl=1\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;color:#999999;\">* Target medium-term: 5800 &#8211; ( 6000 &#8211; 5800 ) = 5600<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The big banks fell sharply on news of a new levy on bank liabilities in the latest budget. At this stage the ASX 300 Banks Index merely shows a secondary reaction. Breach of 8500, however, would signal a primary trend reversal, offering a medium-term target of 8000*. * Target: 8500 &#8211; ( 9000 &#8211; 8500 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/12\/asx-200-bearish-consolidation\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ASX 200 bearish consolidation&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[39,40,43,57],"tags":[255,261,263,292,1902],"class_list":["post-15263","post","type-post","status-publish","format-standard","hentry","category-aussie-dollar","category-australia-nz-countries-regions","category-commodities-gold-commodities","category-stock-markets","tag-asx-200-index","tag-asx-300-banks-index","tag-asx-300-metals-mining-index","tag-australian-dollar","tag-iron-ore"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX 200 bearish consolidation - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASX 200 bearish consolidation - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The big banks fell sharply on news of a new levy on bank liabilities in the latest budget. At this stage the ASX 300 Banks Index merely shows a secondary reaction. Breach of 8500, however, would signal a primary trend reversal, offering a medium-term target of 8000*. * Target: 8500 &#8211; ( 9000 &#8211; 8500 &hellip; Continue reading &quot;ASX 200 bearish consolidation&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/12\/asx-200-bearish-consolidation\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-12T23:01:41+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2017\/2017-05-12-xbak.png\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2017\\\/05\\\/12\\\/asx-200-bearish-consolidation\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2017\\\/05\\\/12\\\/asx-200-bearish-consolidation\\\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"ASX 200 bearish consolidation\",\"datePublished\":\"2017-05-12T23:01:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2017\\\/05\\\/12\\\/asx-200-bearish-consolidation\\\/\"},\"wordCount\":166,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2017\\\/05\\\/12\\\/asx-200-bearish-consolidation\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2017\\\/2017-05-12-xbak.png\",\"keywords\":[\"ASX 200 Index\",\"ASX 300 Banks Index\",\"ASX 300 Metals &amp; Mining Index\",\"Australian Dollar\",\"Iron Ore\"],\"articleSection\":[\"Aussie dollar\",\"Australia &amp; NZ\",\"Commodities\",\"Stock Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2017\\\/05\\\/12\\\/asx-200-bearish-consolidation\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2017\\\/05\\\/12\\\/asx-200-bearish-consolidation\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2017\\\/05\\\/12\\\/asx-200-bearish-consolidation\\\/\",\"name\":\"ASX 200 bearish consolidation - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2017\\\/05\\\/12\\\/asx-200-bearish-consolidation\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2017\\\/05\\\/12\\\/asx-200-bearish-consolidation\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2017\\\/2017-05-12-xbak.png\",\"datePublished\":\"2017-05-12T23:01:41+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2017\\\/05\\\/12\\\/asx-200-bearish-consolidation\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2017\\\/05\\\/12\\\/asx-200-bearish-consolidation\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2017\\\/05\\\/12\\\/asx-200-bearish-consolidation\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2017\\\/2017-05-12-xbak.png\",\"contentUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2017\\\/2017-05-12-xbak.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2017\\\/05\\\/12\\\/asx-200-bearish-consolidation\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ASX 200 bearish consolidation\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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Breach signals a primary trend reversal, offering a medium-term target of 8000*. * Target: 8500 - ( 9000 - 8500 ) = 8000 Resources stocks rallied over the week. Expect strong\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15344,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/26\/asx-retreats-as-iron-ore-breaks-support\/","url_meta":{"origin":15263,"position":1},"title":"ASX retreats as iron ore breaks support","author":"ColinTwiggs","date":"May 26, 2017","format":false,"excerpt":"Iron ore broke support at $60, signaling another decline. The medium-term target is $50*. * Target: 60 - ( 70 - 60 ) = 50 Resources stocks lost momentum, with the ASX 300 Metals & Mining index respecting resistance at 3000. Twiggs Money Flow seemed to be recovering after a\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15499,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/06\/23\/bearish-outlook-for-the-asx\/","url_meta":{"origin":15263,"position":2},"title":"Bearish outlook for the ASX","author":"ColinTwiggs","date":"June 23, 2017","format":false,"excerpt":"Iron ore rallied slightly during the week. But this is a bear market. Expect resistance at $60 to hold and breach of support at $50 is likely, signaling another decline. The ASX 300 Metals & Mining index is testing support at 2750. Breach is likely and would signal a primary\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15602,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/14\/asx-buoyant-as-iron-rallies\/","url_meta":{"origin":15263,"position":3},"title":"ASX buoyant as iron rallies","author":"ColinTwiggs","date":"July 14, 2017","format":false,"excerpt":"Iron ore broke resistance at $60 and is headed for a test of $70 per ton. This is a strong rally but it does not signal the end of the bear market. Only when the rally ends and there is another test of primary support at $53 will we be\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15662,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/04\/asx-banks-spoil-the-iron-ore-party\/","url_meta":{"origin":15263,"position":4},"title":"ASX banks spoil the iron ore party","author":"ColinTwiggs","date":"August 4, 2017","format":false,"excerpt":"I underestimated the strength of iron ore which has now broken resistance at 70, suggesting that a bottom is forming. Strength of the latest rally indicates that the next correction is likely to find support at 60. The Resources sector responded, with the ASX 300 Metals & Mining index headed\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15525,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/06\/30\/asx-selling-pressure-despite-iron-ore-rally\/","url_meta":{"origin":15263,"position":5},"title":"ASX selling pressure despite iron ore rally","author":"ColinTwiggs","date":"June 30, 2017","format":false,"excerpt":"Iron ore roared back, breaking resistance at $60. But this is a bear market. Also port inventories are climbing, while housing price growth is slowing. Expect another test of support at $50 is likely. Breach would signal another decline. The ASX 300 Metals & Mining index rallied off support at\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/15263","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=15263"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/15263\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=15263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=15263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=15263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}