{"id":16363,"date":"2018-06-16T00:56:51","date_gmt":"2018-06-16T00:56:51","guid":{"rendered":"http:\/\/thepatientinvestor.com\/?p=16363"},"modified":"2018-06-16T00:56:51","modified_gmt":"2018-06-16T00:56:51","slug":"asx-200-strengthens-despite-banks-and-iron-prices","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/16\/asx-200-strengthens-despite-banks-and-iron-prices\/","title":{"rendered":"ASX 200 strengthens despite banks and iron prices"},"content":{"rendered":"<p>Iron ore prices are weakening, with spot testing support at $62\/tonne. A Trend Index peak below zero would complete a bearish outlook, warning of strong selling pressure. Breach of support at $58 would confirm a primary down-trend.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"Iron Ore\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-06-15-tr.png?w=525&#038;ssl=1\" \/><\/p>\n<p>The ASX 300 Metals &amp; Mining index is testing resistance at 4000, remaining in a strong up-trend despite weaker ore prices.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"ASX 300 Metals &amp; Mining\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-06-15-xmm.png?w=525&#038;ssl=1\" \/><\/p>\n<p><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/15\/enter-the-era-of-zombie-economies\/\">Australian banks face a tough time<\/a> over the next year or two but the ASX 200 index continues to strengthen despite weakness in its largest sector. A Twiggs Money Flow (13-week) trough at the zero line signals interest from buyers and breakout above 6150 would signal a primary advance, with a target of the October 2007 high at 6750.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" alt=\"ASX 200\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2018-06-15-xjo.png?w=525&#038;ssl=1\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Iron ore prices are weakening, with spot testing support at $62\/tonne. A Trend Index peak below zero would complete a bearish outlook, warning of strong selling pressure. Breach of support at $58 would confirm a primary down-trend. The ASX 300 Metals &amp; Mining index is testing resistance at 4000, remaining in a strong up-trend despite &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/16\/asx-200-strengthens-despite-banks-and-iron-prices\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ASX 200 strengthens despite banks and iron prices&#8221;<\/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":[40,57],"tags":[251,262,381,1902],"class_list":["post-16363","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-stock-markets","tag-asx-200","tag-asx-300-metals-mining","tag-banks","tag-iron-ore"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX 200 strengthens despite banks and iron prices - 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 strengthens despite banks and iron prices - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Iron ore prices are weakening, with spot testing support at $62\/tonne. A Trend Index peak below zero would complete a bearish outlook, warning of strong selling pressure. Breach of support at $58 would confirm a primary down-trend. The ASX 300 Metals &amp; Mining index is testing resistance at 4000, remaining in a strong up-trend despite &hellip; Continue reading &quot;ASX 200 strengthens despite banks and iron prices&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/16\/asx-200-strengthens-despite-banks-and-iron-prices\/\" \/>\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=\"2018-06-16T00:56:51+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2018-06-15-tr.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\/16\/asx-200-strengthens-despite-banks-and-iron-prices\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/16\/asx-200-strengthens-despite-banks-and-iron-prices\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"ASX 200 strengthens despite banks and iron prices\",\"datePublished\":\"2018-06-16T00:56:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/16\/asx-200-strengthens-despite-banks-and-iron-prices\/\"},\"wordCount\":117,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/16\/asx-200-strengthens-despite-banks-and-iron-prices\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-06-15-tr.png\",\"keywords\":[\"ASX 200\",\"ASX 300 Metals &amp; Mining\",\"banks\",\"Iron Ore\"],\"articleSection\":[\"Australia &amp; NZ\",\"Stock Markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/16\/asx-200-strengthens-despite-banks-and-iron-prices\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/16\/asx-200-strengthens-despite-banks-and-iron-prices\/\",\"name\":\"ASX 200 strengthens despite banks and iron prices - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/16\/asx-200-strengthens-despite-banks-and-iron-prices\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/16\/asx-200-strengthens-despite-banks-and-iron-prices\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-06-15-tr.png\",\"datePublished\":\"2018-06-16T00:56:51+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/16\/asx-200-strengthens-despite-banks-and-iron-prices\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/16\/asx-200-strengthens-despite-banks-and-iron-prices\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/16\/asx-200-strengthens-despite-banks-and-iron-prices\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-06-15-tr.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2018-06-15-tr.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2018\/06\/16\/asx-200-strengthens-despite-banks-and-iron-prices\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ASX 200 strengthens despite banks and iron prices\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/thepatientinvestor.com\/#website\",\"url\":\"https:\/\/thepatientinvestor.com\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. 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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 &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":16363,"position":1},"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":[]},{"id":15662,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/04\/asx-banks-spoil-the-iron-ore-party\/","url_meta":{"origin":16363,"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 &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":15228,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/05\/2-more-warning-signs-for-the-asx\/","url_meta":{"origin":16363,"position":3},"title":"2 More Warning Signs for the ASX","author":"ColinTwiggs","date":"May 5, 2017","format":false,"excerpt":"The recent Iron ore rally has faded and the commodity is again testing support at $60. Twiggs Momentum (13-week) below zero indicates a primary down-trend. The ASX 300 Metals & Mining Index broke support at 2850, warning of a down-trend. A Twiggs Money Flow peak below zero flags strong selling\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":21405,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/09\/05\/asx-200-retreats-4\/","url_meta":{"origin":16363,"position":4},"title":"ASX 200 retreats","author":"Colin Twiggs","date":"September 5, 2020","format":false,"excerpt":"The ASX 200 closed below support at 6000 while Money Flow dipped below zero, warning of selling pressure. Breach of support at 5800 is likely and would warn of a correction to test primary support at 4500. Banks & Real Estate Real Estate remains under pressure. The ASX 200 REITs\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":21472,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/09\/12\/asx-200-banks-break-support-2\/","url_meta":{"origin":16363,"position":5},"title":"ASX 200: Banks break support","author":"Colin Twiggs","date":"September 12, 2020","format":false,"excerpt":"The ASX 200 is testing medium-term support at 5800, while declining Money Flow, below zero, warns of selling pressure. Breach of support is likely and would indicate a correction with an immediate target of 5200. Banks & Real Estate The ASX 300 Banks index breached support at 5500, warning of\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\/16363","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=16363"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16363\/revisions"}],"predecessor-version":[{"id":16364,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/16363\/revisions\/16364"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=16363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=16363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=16363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}