{"id":19683,"date":"2020-01-24T23:55:21","date_gmt":"2020-01-24T23:55:21","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=19683"},"modified":"2020-01-24T23:55:21","modified_gmt":"2020-01-24T23:55:21","slug":"asx-200-retracement-likely","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/","title":{"rendered":"ASX 200 retracement likely"},"content":{"rendered":"<p>A short candle with a tall shadow on the ASX 200 weekly chart warns of short-term selling pressure. Expect retracement to test the new support level at 6800.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2020-01-24-xjo.png?w=525&#038;ssl=1\" alt=\"ASX 200\" \/><\/p>\n<p>Weakness has been driven by the Resources sector, with a gravestone candle on the ASX 300 Metals &amp; Mining index warning of selling pressure at resistance at 4800 and a likely reversal to test support at 4450.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2020-01-24-xmm.png?w=525&#038;ssl=1\" alt=\"ASX 300 Metals &amp; Mining\" \/><\/p>\n<p>A short candle on the ASX 300 Banks index warns of increased short-term selling pressure. Respect of the descending trendline would signal another decline; breach of support at 7250 would confirm. Penetration of the trendline is less likely but would suggest that a bottom is forming.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2018\/2020-01-24-xbak.png?w=525&#038;ssl=1\" alt=\"ASX 300 Banks\" \/><\/p>\n<p>We continue to hold a bearish view on the domestic economy but recognize that the temporary tailwind from resources (iron ore) may partly alleviate this. <a href=\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/15\/asx-leading-sectors\/\">IT and Healthcare sectors<\/a> are, in our view, over-priced and we maintain our focus on defensive and contra-cyclical (gold) stocks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A short candle with a tall shadow on the ASX 200 weekly chart warns of short-term selling pressure. Expect retracement to test the new support level at 6800. Weakness has been driven by the Resources sector, with a gravestone candle on the ASX 300 Metals &amp; Mining index warning of selling pressure at resistance at &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;ASX 200 retracement likely&#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":[40,43,57],"tags":[251,381,4136],"class_list":["post-19683","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-commodities-gold-commodities","category-stock-markets","tag-asx-200","tag-banks","tag-metals-mining"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX 200 retracement likely - 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 retracement likely - the patient investor\" \/>\n<meta property=\"og:description\" content=\"A short candle with a tall shadow on the ASX 200 weekly chart warns of short-term selling pressure. Expect retracement to test the new support level at 6800. Weakness has been driven by the Resources sector, with a gravestone candle on the ASX 300 Metals &amp; Mining index warning of selling pressure at resistance at &hellip; Continue reading &quot;ASX 200 retracement likely&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/\" \/>\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=\"2020-01-24T23:55:21+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/static.incrediblecharts.com\/images\/2018\/2020-01-24-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\/24\/asx-200-retracement-likely\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"ASX 200 retracement likely\",\"datePublished\":\"2020-01-24T23:55:21+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/\"},\"wordCount\":152,\"publisher\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2020-01-24-xjo.png\",\"keywords\":[\"ASX 200\",\"banks\",\"Metals &amp; Mining\"],\"articleSection\":[\"Australia &amp; NZ\",\"Commodities\",\"Stock Markets\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/\",\"url\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/\",\"name\":\"ASX 200 retracement likely - the patient investor\",\"isPartOf\":{\"@id\":\"https:\/\/thepatientinvestor.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2020-01-24-xjo.png\",\"datePublished\":\"2020-01-24T23:55:21+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/#primaryimage\",\"url\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2020-01-24-xjo.png\",\"contentUrl\":\"https:\/\/www.incrediblecharts.com\/images\/2018\/2020-01-24-xjo.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/thepatientinvestor.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"ASX 200 retracement likely\"}]},{\"@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 retracement likely - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"ASX 200 retracement likely - the patient investor","og_description":"A short candle with a tall shadow on the ASX 200 weekly chart warns of short-term selling pressure. Expect retracement to test the new support level at 6800. Weakness has been driven by the Resources sector, with a gravestone candle on the ASX 300 Metals &amp; Mining index warning of selling pressure at resistance at &hellip; Continue reading \"ASX 200 retracement likely\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_author":"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","article_published_time":"2020-01-24T23:55:21+00:00","og_image":[{"url":"http:\/\/static.incrediblecharts.com\/images\/2018\/2020-01-24-xjo.png","type":"","width":"","height":""}],"author":"Colin Twiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Colin Twiggs","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/"},"author":{"name":"Colin Twiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454"},"headline":"ASX 200 retracement likely","datePublished":"2020-01-24T23:55:21+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/"},"wordCount":152,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2018\/2020-01-24-xjo.png","keywords":["ASX 200","banks","Metals &amp; Mining"],"articleSection":["Australia &amp; NZ","Commodities","Stock Markets"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/","name":"ASX 200 retracement likely - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/#primaryimage"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2018\/2020-01-24-xjo.png","datePublished":"2020-01-24T23:55:21+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/#primaryimage","url":"https:\/\/www.incrediblecharts.com\/images\/2018\/2020-01-24-xjo.png","contentUrl":"https:\/\/www.incrediblecharts.com\/images\/2018\/2020-01-24-xjo.png"},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2020\/01\/24\/asx-200-retracement-likely\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"ASX 200 retracement likely"}]},{"@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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The ASX 300 Metals & Mining index made a weak retracement to test 3750, suggesting strong selling pressure.\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":17010,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/07\/asx-200-banks-miners-lead-correction\/","url_meta":{"origin":19683,"position":1},"title":"ASX 200: Banks &#038; miners lead correction","author":"Colin Twiggs","date":"September 7, 2018","format":false,"excerpt":"The ASX 300 Banks index continues to test support at 7700 after respecting its new resistance level at 8000. Breach of support is likely and would signal another test of primary support at 7300. The ASX 300 Metals & Mining index broke short-term support at 3600 and is headed for\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":22213,"url":"https:\/\/thepatientinvestor.com\/index.php\/2020\/10\/24\/asx-200-meets-resistance-2\/","url_meta":{"origin":19683,"position":2},"title":"ASX 200 meets resistance","author":"Colin Twiggs","date":"October 24, 2020","format":false,"excerpt":"The ASX 200 met resistance at 6200, signaled by narrow ranges and declining Money Flow. Expect another test of support at 5800. Breach would warn of a primary decline, with support at 4500. The ASX 300 Banks index similarly found resistance at 6000, with narrow ranges indicating short-term selling pressure.\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":31454,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/03\/12\/asx-bearish-apart-from-energy-and-metals-mining\/","url_meta":{"origin":19683,"position":3},"title":"ASX bearish apart from Energy and Metals &#038; Mining","author":"Colin Twiggs","date":"March 12, 2022","format":false,"excerpt":"The ASX 200 is consolidating in a narrow band below the former primary support level at 7200. Descending Trend Index peaks warn of selling pressure. Breach of short-term support at 7000 is likely and would offer an immediate target of 6800. Bond ETFs continue to fall, signaling rising long-term interest\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":"ASX 200","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-11-xjo2.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-11-xjo2.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-11-xjo2.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-03-11-xjo2.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":17059,"url":"https:\/\/thepatientinvestor.com\/index.php\/2018\/09\/15\/asx-200-correction-to-test-6000\/","url_meta":{"origin":19683,"position":4},"title":"ASX 200: Correction to test 6000","author":"Colin Twiggs","date":"September 15, 2018","format":false,"excerpt":"The ASX 300 Banks index continues to test support at 7700. Declining Trend Index warns of medium-term selling pressure. Breach of support is likely and would signal a test of primary support at 7300. The ASX 300 Metals & Mining index is also headed for a test of primary support,\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":26528,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/06\/26\/asx-short-term-bearish-long-term-bullish\/","url_meta":{"origin":19683,"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. Low rates buoyed A-REITs 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":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19683","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=19683"}],"version-history":[{"count":1,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19683\/revisions"}],"predecessor-version":[{"id":19684,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/19683\/revisions\/19684"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=19683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=19683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=19683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}