{"id":15431,"date":"2017-06-10T02:56:53","date_gmt":"2017-06-10T06:56:53","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=15431"},"modified":"2017-06-10T02:56:53","modified_gmt":"2017-06-10T06:56:53","slug":"asx-banks-and-iron-ore-drag-the-index-lower","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2017\/06\/10\/asx-banks-and-iron-ore-drag-the-index-lower\/","title":{"rendered":"ASX banks and iron ore drag the index lower"},"content":{"rendered":"

Last week I wrote: “I believe that the latest rally is a secondary reaction and that the ASX is headed for a down-turn, with miners and banks leading the way. But it’s no use arguing with the (ticker) tape.” This week the ticker tape backs up my bearish sentiment, so I am a lot more comfortable.<\/p>\n

Iron ore continues to fall, headed for a test of 50.<\/p>\n

\"Iron<\/p>\n

Banks’ bear market rally also petered out, with the ASX 300 Banks index headed for a test of support at 8000. Breach would confirm the primary down-trend.<\/p>\n

\"ASX<\/p>\n

The ASX 200 broke support at 5700. Declining Twiggs Money Flow signals selling pressure. Breach of primary support at 5600 would warn of a primary down-trend.<\/p>\n

\"ASX<\/p>\n","protected":false},"excerpt":{"rendered":"

Last week I wrote: “I believe that the latest rally is a secondary reaction and that the ASX is headed for a down-turn, with miners and banks leading the way. But it’s no use arguing with the (ticker) tape.” This week the ticker tape backs up my bearish sentiment, so I am a lot more … <\/p>\n

Continue reading “ASX banks and iron ore drag the index lower”<\/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":[40,43,57],"tags":[251,261,1902],"class_list":["post-15431","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-commodities-gold-commodities","category-stock-markets","tag-asx-200","tag-asx-300-banks-index","tag-iron-ore"],"yoast_head":"\nASX banks and iron ore drag the index lower - 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 banks and iron ore drag the index lower - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Last week I wrote: “I believe that the latest rally is a secondary reaction and that the ASX is headed for a down-turn, with miners and banks leading the way. 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But Iron ore continues to fall, headed for a test of 50. The ASX 300 Metals & Mining index respected resistance at 3000\u2026","rel":"","context":"In "Aussie dollar"","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15387,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/06\/02\/australia-asx-rallies\/","url_meta":{"origin":15431,"position":1},"title":"Australia: ASX rallies","author":"ColinTwiggs","date":"June 2, 2017","format":false,"excerpt":"Iron ore is falling. And the broader DJ-UBS Commodity Index is testing support at 82. Breach would signal a decline to test the 2015 low at 74. But the Aussie Dollar rallied Friday, the large engulfing candle suggesting another test of resistance at 75 US cents. Miners finished strongly, with\u2026","rel":"","context":"In "Aussie dollar"","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"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":15431,"position":2},"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 "Australia & NZ"","block_context":{"text":"Australia & 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":15431,"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 "Australia & NZ"","block_context":{"text":"Australia & 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":15431,"position":4},"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 "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15565,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/07\/asx-200-banks-run-into-strong-resistance\/","url_meta":{"origin":15431,"position":5},"title":"ASX 200: Banks run into strong resistance","author":"ColinTwiggs","date":"July 7, 2017","format":false,"excerpt":"Iron ore peaked at $60. Expect a sharp fall to test support between $50 and $52, typical of a bear market. Chinese housing price growth -- a key driver of iron ore prices as illustrated last week -- is slowing and likely to drag ore prices lower. The ASX 300\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & 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\/15431","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=15431"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/15431\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=15431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=15431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=15431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}