{"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":"

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

\"Iron<\/p>\n

The ASX 300 Metals & Mining index is testing resistance at 4000, remaining in a strong up-trend despite weaker ore prices.<\/p>\n

\"ASX<\/p>\n

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

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

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 & Mining index is testing resistance at 4000, remaining in a strong up-trend despite … <\/p>\n

Continue reading “ASX 200 strengthens despite banks and iron prices”<\/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_feature_clip_id":0,"_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":"\nASX 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. 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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":[]},{"id":15662,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/08\/04\/asx-banks-spoil-the-iron-ore-party\/","url_meta":{"origin":16363,"position":1},"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":15525,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/06\/30\/asx-selling-pressure-despite-iron-ore-rally\/","url_meta":{"origin":16363,"position":2},"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":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 "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":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 "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":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. 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