{"id":18962,"date":"2019-09-21T00:34:20","date_gmt":"2019-09-21T00:34:20","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=18962"},"modified":"2019-09-21T00:34:20","modified_gmt":"2019-09-21T00:34:20","slug":"asx-200-tests-resistance-iron-ore-tests-support","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/21\/asx-200-tests-resistance-iron-ore-tests-support\/","title":{"rendered":"ASX 200 tests resistance, Iron ore tests support"},"content":{"rendered":"<p>Iron ore found resistance at $95\/ton and is likely to again test short-term support at $90. Support is unlikely to hold and breach would offer a medium-term target of $80 per ton.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-09-20-tr.png?w=525&#038;ssl=1\" alt=\"Iron Ore\" \/><\/p>\n<p>The ASX 300 Metals &amp; Mining index found support at 4100 but the rally is weak. Breach of 4100 would complete a <a href=\"https:\/\/www.incrediblecharts.com\/technical\/head_and_shoulders.php\">head and shoulders<\/a> reversal, giving a target of 3400.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-09-20-xmm.png?w=525&#038;ssl=1\" alt=\"ASX 300 Metals &amp; Mining\" \/><\/p>\n<p>A fall in iron ore prices would increase downward pressure on the Aussie Dollar.<\/p>\n<p>The Financial sector continues to look bullish, testing resistance at 6500, with Trend Index troughs above zero indicating buying pressure. Housing woes are far from over, despite improved auction clearance rates, and we expect the sector to remain a drag on growth for the next three to five years &#8212; unless the RBA &amp; APRA go &#8220;all-in&#8221; on a housing bubble to &#8220;rescue&#8221; the economy.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-09-20-xfj.png?w=525&#038;ssl=1\" alt=\"ASX 200 Financials\" \/><\/p>\n<p>The ASX 200 is edging upwards, towards a test of resistance at the 2007 high of 6800. Expect stubborn resistance. Reversal below 6400 would warn of a decline to test primary support at 5400.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2019-09-20-xjo.png?w=525&#038;ssl=1\" alt=\"ASX 200\" \/><\/p>\n<p>We maintain exposure to Australian equities at 25% of portfolio value, with a focus on defensive and contra-cyclical stocks, because of our <a href=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/19\/leading-index-of-employment\/\">bearish long-term outlook<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Iron ore found resistance at $95\/ton and is likely to again test short-term support at $90. Support is unlikely to hold and breach would offer a medium-term target of $80 per ton. The ASX 300 Metals &amp; Mining index found support at 4100 but the rally is weak. Breach of 4100 would complete a head &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/21\/asx-200-tests-resistance-iron-ore-tests-support\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ASX 200 tests resistance, Iron ore tests support&#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":[39,40,43,10,57],"tags":[251,4003,262,1902],"class_list":["post-18962","post","type-post","status-publish","format-standard","hentry","category-aussie-dollar","category-australia-nz-countries-regions","category-commodities-gold-commodities","category-housing-economy","category-stock-markets","tag-asx-200","tag-asx-200-financials","tag-asx-300-metals-mining","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 tests resistance, Iron ore tests support - 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 tests resistance, Iron ore tests support - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Iron ore found resistance at $95\/ton and is likely to again test short-term support at $90. Support is unlikely to hold and breach would offer a medium-term target of $80 per ton. The ASX 300 Metals &amp; Mining index found support at 4100 but the rally is weak. Breach of 4100 would complete a head &hellip; Continue reading &quot;ASX 200 tests resistance, Iron ore tests support&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/21\/asx-200-tests-resistance-iron-ore-tests-support\/\" \/>\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=\"2019-09-21T00:34:20+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2019-09-20-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\/2019\/09\/21\/asx-200-tests-resistance-iron-ore-tests-support\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/21\/asx-200-tests-resistance-iron-ore-tests-support\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"ASX 200 tests resistance, Iron ore tests support\",\"datePublished\":\"2019-09-21T00:34:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/21\/asx-200-tests-resistance-iron-ore-tests-support\/\"},\"wordCount\":195,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/21\/asx-200-tests-resistance-iron-ore-tests-support\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-09-20-tr.png\",\"keywords\":[\"ASX 200\",\"ASX 200 Financials\",\"ASX 300 Metals &amp; Mining\",\"Iron Ore\"],\"articleSection\":[\"Aussie dollar\",\"Australia &amp; NZ\",\"Commodities\",\"Housing\",\"Stock Markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/21\/asx-200-tests-resistance-iron-ore-tests-support\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/21\/asx-200-tests-resistance-iron-ore-tests-support\/\",\"name\":\"ASX 200 tests resistance, Iron ore tests support - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/21\/asx-200-tests-resistance-iron-ore-tests-support\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/21\/asx-200-tests-resistance-iron-ore-tests-support\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-09-20-tr.png\",\"datePublished\":\"2019-09-21T00:34:20+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/21\/asx-200-tests-resistance-iron-ore-tests-support\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/21\/asx-200-tests-resistance-iron-ore-tests-support\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/21\/asx-200-tests-resistance-iron-ore-tests-support\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-09-20-tr.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2019-09-20-tr.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/21\/asx-200-tests-resistance-iron-ore-tests-support\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ASX 200 tests resistance, Iron ore tests support\"}]},{\"@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. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.\",\"sameAs\":[\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\",\"https:\/\/www.instagram.com\/colin_thepatientinvestor\",\"https:\/\/au.linkedin.com\/in\/colintwiggs\"],\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"ASX 200 tests resistance, Iron ore tests support - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"ASX 200 tests resistance, Iron ore tests support - the patient investor","og_description":"Iron ore found resistance at $95\/ton and is likely to again test short-term support at $90. Support is unlikely to hold and breach would offer a medium-term target of $80 per ton. The ASX 300 Metals &amp; Mining index found support at 4100 but the rally is weak. 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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. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-4VQ","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":18878,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/14\/asx-iron-ore-expected-to-decline-to-55-per-ton-in-next-five-years\/","url_meta":{"origin":18962,"position":0},"title":"ASX: Iron Ore expected to decline to $55 per ton in next five years","author":"Colin Twiggs","date":"September 14, 2019","format":false,"excerpt":"Iron ore found short-term support at $90 per ton but this is unlikely to hold and our medium-term target is $80 per ton. Bloomberg published an interesting outlook on iron ore this week from Ed Morse, Global Head of Commodities Research at Citigroup: \u201cSteel demand is no longer going to\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":18998,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/09\/28\/asx-200-stubborn-resistance\/","url_meta":{"origin":18962,"position":1},"title":"ASX 200: Stubborn resistance","author":"Colin Twiggs","date":"September 28, 2019","format":false,"excerpt":"Iron ore is headed for another test of short-term support at $90. Breach would signal another decline, with a medium-term target of $80 per ton. The ASX 300 Metals & Mining index retreated this week and is expected to test long-term support at 4100. Breach would complete a head and\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":19023,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/10\/05\/asx-200-hits-a-brick-wall\/","url_meta":{"origin":18962,"position":2},"title":"ASX 200 hits a brick wall","author":"Colin Twiggs","date":"October 5, 2019","format":false,"excerpt":"The ASX 200 retreated sharply from stubborn resistance at the 2007 high of 6800, like hitting a brick wall. Breach of support at 6400, after a lower high, is now more likely and would offer a target of 5400. Iron ore continues to test short-term support at $90. Breach is\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":19713,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/02\/01\/asx-resources-and-aussie-dollar-take-a-beating\/","url_meta":{"origin":18962,"position":3},"title":"ASX Resources and Aussie Dollar take a beating","author":"Colin Twiggs","date":"February 1, 2020","format":false,"excerpt":"The ASX 300 Metals & Mining index took a beating as concerns about coronavirus impact on Chinese imports soared. Breach of support at 4450 is likely and would warn of a test of primary support at 4100. Iron ore reaction is more muted but bulk commodities, especially iron ore and\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","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":24085,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/02\/13\/asx-hesitant\/","url_meta":{"origin":18962,"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 &quot;Aussie dollar&quot;","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":15263,"url":"https:\/\/thepatientinvestor.com\/index.php\/2017\/05\/12\/asx-200-bearish-consolidation\/","url_meta":{"origin":18962,"position":5},"title":"ASX 200 bearish consolidation","author":"ColinTwiggs","date":"May 12, 2017","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;Aussie dollar&quot;","block_context":{"text":"Aussie dollar","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/aussie-dollar\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18962","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=18962"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18962\/revisions"}],"predecessor-version":[{"id":18963,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/18962\/revisions\/18963"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=18962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=18962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=18962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}