{"id":16336,"date":"2018-06-09T03:42:01","date_gmt":"2018-06-09T03:42:01","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=16336"},"modified":"2018-06-09T09:42:04","modified_gmt":"2018-06-09T09:42:04","slug":"is-asx-200-resurgence-sustainable","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/09\/is-asx-200-resurgence-sustainable\/","title":{"rendered":"Is ASX 200 resurgence sustainable?"},"content":{"rendered":"

The ASX 200 found support at 5950\/6000, a bullish sign. Large bearish divergence on Twiggs Money Flow (13-week) continues to warn of selling pressure but breakout above 6150 would signal a fresh primary advance. Breach of 5950 is unlikely at present, but would warn of a test of primary support at 5650\/5750.<\/p>\n

\"ASX<\/p>\n

The ASX 300 Banks decline continues, heading for a test of its 2016 low at 7200.<\/p>\n

\"ASX<\/p>\n

The ASX 300 Metals & Mining index breakout above 4000 is likely, offering a target of 4200.<\/p>\n

\"ASX<\/p>\n

The broad index looks bullish but I have two concerns. First is the weak banking index, representing the largest sector in the ASX 200. Second, iron ore prices are weakening. Spot prices are testing support at $62\/tonne. A Trend Index peak below zero looks likely, and would warn of strong selling pressure. Breach of support at $58 would signal a primary down-trend.<\/p>\n

\"Iron<\/p>\n

GDP growth recovered to 3.1% for the year ending 31 March 2018, on the back of strong exports, but the overall report card for the economy<\/a> remains weak.<\/p>\n","protected":false},"excerpt":{"rendered":"

The ASX 200 found support at 5950\/6000, a bullish sign. Large bearish divergence on Twiggs Money Flow (13-week) continues to warn of selling pressure but breakout above 6150 would signal a fresh primary advance. Breach of 5950 is unlikely at present, but would warn of a test of primary support at 5650\/5750. The ASX 300 … <\/p>\n

Continue reading “Is ASX 200 resurgence sustainable?”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,43,57],"tags":[251,261,263,1902],"class_list":["post-16336","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-asx-300-metals-mining-index","tag-iron-ore"],"yoast_head":"\nIs ASX 200 resurgence sustainable? - 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=\"Is ASX 200 resurgence sustainable? - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The ASX 200 found support at 5950\/6000, a bullish sign. Large bearish divergence on Twiggs Money Flow (13-week) continues to warn of selling pressure but breakout above 6150 would signal a fresh primary advance. Breach of 5950 is unlikely at present, but would warn of a test of primary support at 5650\/5750. The ASX 300 … Continue reading "Is ASX 200 resurgence sustainable?"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/09\/is-asx-200-resurgence-sustainable\/\" \/>\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:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-06-09T03:42:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-06-09T09:42:04+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2018-06-08-xjo.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\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\/2018\/06\/09\/is-asx-200-resurgence-sustainable\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/09\/is-asx-200-resurgence-sustainable\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Is ASX 200 resurgence sustainable?\",\"datePublished\":\"2018-06-09T03:42:01+00:00\",\"dateModified\":\"2018-06-09T09:42:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/09\/is-asx-200-resurgence-sustainable\/\"},\"wordCount\":162,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/09\/is-asx-200-resurgence-sustainable\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-06-08-xjo.png\",\"keywords\":[\"ASX 200\",\"ASX 300 Banks Index\",\"ASX 300 Metals & Mining Index\",\"Iron Ore\"],\"articleSection\":[\"Australia & NZ\",\"Commodities\",\"Stock Markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/09\/is-asx-200-resurgence-sustainable\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/09\/is-asx-200-resurgence-sustainable\/\",\"name\":\"Is ASX 200 resurgence sustainable? - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/09\/is-asx-200-resurgence-sustainable\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/09\/is-asx-200-resurgence-sustainable\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-06-08-xjo.png\",\"datePublished\":\"2018-06-09T03:42:01+00:00\",\"dateModified\":\"2018-06-09T09:42:04+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/09\/is-asx-200-resurgence-sustainable\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/09\/is-asx-200-resurgence-sustainable\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/09\/is-asx-200-resurgence-sustainable\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-06-08-xjo.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-06-08-xjo.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/09\/is-asx-200-resurgence-sustainable\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Is ASX 200 resurgence sustainable?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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Follow-through above $68 would suggest another rally to test resistance at $80 but that seems unlikely given the current threat of a trade war. The ASX 300 Metals & Mining index found support at 3750. Breakout above 4000 would signal another\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":19568,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/12\/13\/asx-200-hesitant-4\/","url_meta":{"origin":16336,"position":1},"title":"ASX 200 hesitant","author":"Colin Twiggs","date":"December 13, 2019","format":false,"excerpt":"The resources sector is strengthening. The ASX 300 Metals & Mining index broke resistance at 4450, suggesting another advance. Buoyed by rising iron ore prices, the breakout offers a target of 4800. Talk of an imminent trade deal lifted iron ore above previous support at 90. Expect another test of\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":24185,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/02\/20\/asx-3\/","url_meta":{"origin":16336,"position":2},"title":"ASX hesitant","author":"Colin Twiggs","date":"February 20, 2021","format":false,"excerpt":"Iron ore rallied off short-term support at $150\/metric ton and is likely to encounter resistance at $170. A declining Trend Index flags secondary selling pressure and another test of $150 is likely. Tall shadows on the ASX 300 Metals & Mining index similarly indicate short-term selling pressure and another test\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":15629,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/07\/21\/asx-200-its-down-to-iron-ore\/","url_meta":{"origin":16336,"position":3},"title":"ASX 200: It’s down to iron ore","author":"ColinTwiggs","date":"July 21, 2017","format":false,"excerpt":"Iron ore encountered resistance at $70 per ton. Another test of primary support at $53 is likely. But a failed down-swing would be a bullish sign. The ASX 300 Metals & Mining displays a similar pattern, retreating below 3000 after testing 3050. A failed down-swing that ends above 2750 would\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":24085,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/02\/13\/asx-hesitant\/","url_meta":{"origin":16336,"position":4},"title":"ASX hesitant","author":"Colin Twiggs","date":"February 13, 2021","format":false,"excerpt":"Iron ore found short-term support at $150\/metric ton but the subsequent bounce is unimpressive, with 13-week Trend Index cutting below its 7-week MA. Expect another test of support at $150. Breach would offer a target of $130\/metric ton. The ASX 300 Metals & Mining index shows a similar pattern, likely\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":26528,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/06\/26\/asx-short-term-bearish-long-term-bullish\/","url_meta":{"origin":16336,"position":5},"title":"ASX short-term bearish, long-term bullish","author":"Colin Twiggs","date":"June 26, 2021","format":false,"excerpt":"The ASX 200 is retracing to test support at 7000 but Trend Index troughs above zero indicate longer-term buying pressure. Respect of support is likely and would confirm a fresh advance. Financial Markets Rising bond ETFs (BOND, IAF & VAF) signal weakening long-term interest rates. 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