{"id":19606,"date":"2020-01-11T01:32:02","date_gmt":"2020-01-11T01:32:02","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=19606"},"modified":"2020-01-11T01:32:02","modified_gmt":"2020-01-11T01:32:02","slug":"asx-200-breakout-4","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/11\/asx-200-breakout-4\/","title":{"rendered":"ASX 200 breakout"},"content":{"rendered":"<p>The ASX 200 broke resistance at 6800, signaling a fresh advance. Expect retracement to test the new support level; respect would strengthen the bull signal.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2020-01-10-xjo.png?w=525&#038;ssl=1\" alt=\"ASX 200\" \/><\/p>\n<p>Primary driver of the advance is resources. Talk of an imminent phase 1 US-China trade deal lifted iron ore, which is now testing resistance at 95. Expect retracement to test primary support at 80 but respect would confirm that a base has formed.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2020-01-10-tr.png?w=525&#038;ssl=1\" alt=\"Iron Ore\" \/><\/p>\n<p>The ASX 300 Metals &amp; Mining index is advancing in step with iron ore prices, with a short-term target of 4800.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2020-01-10-xmm.png?w=525&#038;ssl=1\" alt=\"ASX 300 Metals &amp; Mining\" \/><\/p>\n<p>Financials remain weak, with the ASX 300 Banks index ranging in a bearish narrow band between 7200 and 7500. Respect of the descending trendline would warn of another decline, with a short-term target of 7000.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2020-01-10-xbak.png?w=525&#038;ssl=1\" alt=\"ASX 300 Banks\" \/><\/p>\n<p>The ASX 200 REITs index recovered after a false break below 1580, with a short-term target of 1680.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2020-01-10-xpj.png?w=525&#038;ssl=1\" alt=\"ASX 200 REITs\" \/><\/p>\n<p>We maintain a focus on defensive and contra-cyclical (gold) sectors because of our bearish outlook for the Australian and global economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The ASX 200 broke resistance at 6800, signaling a fresh advance. Expect retracement to test the new support level; respect would strengthen the bull signal. Primary driver of the advance is resources. Talk of an imminent phase 1 US-China trade deal lifted iron ore, which is now testing resistance at 95. Expect retracement to test &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/11\/asx-200-breakout-4\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ASX 200 breakout&#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":[39,40,43,57],"tags":[251,381,1902,4136,4031],"class_list":["post-19606","post","type-post","status-publish","format-standard","hentry","category-aussie-dollar","category-australia-nz-countries-regions","category-commodities-gold-commodities","category-stock-markets","tag-asx-200","tag-banks","tag-iron-ore","tag-metals-mining","tag-reits"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX 200 breakout - 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 breakout - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The ASX 200 broke resistance at 6800, signaling a fresh advance. Expect retracement to test the new support level; respect would strengthen the bull signal. Primary driver of the advance is resources. Talk of an imminent phase 1 US-China trade deal lifted iron ore, which is now testing resistance at 95. Expect retracement to test &hellip; Continue reading &quot;ASX 200 breakout&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/11\/asx-200-breakout-4\/\" \/>\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=\"2020-01-11T01:32:02+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2020-01-10-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\\\/2020\\\/01\\\/11\\\/asx-200-breakout-4\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2020\\\/01\\\/11\\\/asx-200-breakout-4\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"ASX 200 breakout\",\"datePublished\":\"2020-01-11T01:32:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2020\\\/01\\\/11\\\/asx-200-breakout-4\\\/\"},\"wordCount\":151,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2020\\\/01\\\/11\\\/asx-200-breakout-4\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2020-01-10-xjo.png\",\"keywords\":[\"ASX 200\",\"banks\",\"Iron Ore\",\"Metals &amp; Mining\",\"REITs\"],\"articleSection\":[\"Aussie dollar\",\"Australia &amp; NZ\",\"Commodities\",\"Stock Markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2020\\\/01\\\/11\\\/asx-200-breakout-4\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2020\\\/01\\\/11\\\/asx-200-breakout-4\\\/\",\"name\":\"ASX 200 breakout - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2020\\\/01\\\/11\\\/asx-200-breakout-4\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2020\\\/01\\\/11\\\/asx-200-breakout-4\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2020-01-10-xjo.png\",\"datePublished\":\"2020-01-11T01:32:02+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2020\\\/01\\\/11\\\/asx-200-breakout-4\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2020\\\/01\\\/11\\\/asx-200-breakout-4\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2020\\\/01\\\/11\\\/asx-200-breakout-4\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2020-01-10-xjo.png\",\"contentUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2018\\\/2020-01-10-xjo.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2020\\\/01\\\/11\\\/asx-200-breakout-4\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ASX 200 breakout\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. 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Unfiltered. \",\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/thepatientinvestor.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\",\"name\":\"The Patient Investor Pty Ltd\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"width\":250,\"height\":250,\"caption\":\"The Patient Investor Pty Ltd\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/profile.php?id=61572934660810\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\",\"name\":\"Colin Twiggs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"caption\":\"Colin Twiggs\"},\"description\":\"Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. 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 breakout - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"ASX 200 breakout - the patient investor","og_description":"The ASX 200 broke resistance at 6800, signaling a fresh advance. Expect retracement to test the new support level; respect would strengthen the bull signal. Primary driver of the advance is resources. Talk of an imminent phase 1 US-China trade deal lifted iron ore, which is now testing resistance at 95. 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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-56e","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":19568,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/12\/13\/asx-200-hesitant-4\/","url_meta":{"origin":19606,"position":0},"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 &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":23207,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/12\/12\/asx-boosted-by-iron-ore\/","url_meta":{"origin":19606,"position":1},"title":"ASX boosted by iron ore","author":"Colin Twiggs","date":"December 12, 2020","format":false,"excerpt":"Iron ore is trading at $152\/tonne, driven by surging demand from China and constrained supply from Brazil. The price jump will more than offset the Chinese trade embargo on a number of other Australian exports. But surging iron ore prices have also boosted the Australian Dollar, offsetting some of the\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":19594,"url":"https:\/\/thepatientinvestor.com\/index.php\/2019\/12\/21\/asx-200-hesitant-because-of-banks\/","url_meta":{"origin":19606,"position":2},"title":"ASX 200 hesitant because of banks","author":"Colin Twiggs","date":"December 21, 2019","format":false,"excerpt":"Financials are still weak. The ASX 300 Banks rally appears short-lived, posting a red candle for the week. Expect another test of support at 7200; breach would test primary support at 6750. The ASX 200 REITs index recovered above support at 1600. False breaks on both the bull and bear\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":23055,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/12\/05\/asx-iron-ore-goes-ballistic\/","url_meta":{"origin":19606,"position":3},"title":"ASX: Iron ore goes ballistic","author":"Colin Twiggs","date":"December 5, 2020","format":false,"excerpt":"The ASX 200 encountered mild resistance around 6600 but rising Twiggs Money Flow indicates buying pressure. Retracement that respects support at 6200 would signal another advance to the Feb 2020 high at 7000. Financial REITs ran into resistance at 1500, with small, overlapping ranges indicating a loss of momentum. The\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":23294,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/12\/19\/asx-200-and-the-fiscal-cliff\/","url_meta":{"origin":19606,"position":4},"title":"ASX 200 and the fiscal cliff","author":"Colin Twiggs","date":"December 19, 2020","format":false,"excerpt":"Iron ore continues to trade above $150\/tonne, driven by surging infrastructure investment in China and constrained iron ore supply from Brazil. There is a widely held view that prices will fall next year if infrastructure spending dwindles and Brazilian supply recovers. The Australian economy is overly-reliant on iron ore exports\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":19606,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19606","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=19606"}],"version-history":[{"count":2,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19606\/revisions"}],"predecessor-version":[{"id":19608,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19606\/revisions\/19608"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=19606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=19606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=19606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}