Australia: ASX 200

By Colin Twiggs
August 1st, 2012 5:00 p.m. ET (7:00 a.m. AET)

These extracts from my trading diary are for educational purposes and should not be interpreted as investment or trading advice. Full terms and conditions can be found at Terms of Use.

The ASX 200 is rallying for another test of resistance at 4450. The hourly chart shows brief consolidation below 4300; breakout would signal an advance to 4450. Lackluster performance from the US overnight may inhibit short-term gains and reversal below 4250 would indicate a test of the rising trendline and medium-term support at 4120.

Democracy is a device that ensures we shall be governed no better than we deserve.

~ George Bernard Shaw

	Australia: ASX 200 By Colin Twiggs August 1st, 2012 5:00 p.m. ET (7:00 a.m. AET) These extracts from my trading diary are for educational purposes and should not be interpreted as investment or trading advice. Full terms and conditions can be found at Terms of Use. The ASX 200 is rallying for another test of resistance at 4450. The hourly chart shows brief consolidation below 4300; breakout would signal an advance to 4450. Lackluster performance from the US overnight may inhibit short-term gains and reversal below 4250 would indicate a test of the rising trendline and medium-term support at 4120. Democracy is a device that ensures we shall be governed no better than we deserve. ~ George Bernard Shaw	Share: A+ A− FREE 12-month subscription to The Patient Investor Get the insights you need to stay ahead in financial markets when you sign up to Incredible Charts premium service by 31 December. Start Now Incredible Charts Try our popular premium stock charting software, with proprietary trading tools and powerful stock screens. More than 420K downloads Suitable for Windows 10 & 11 Start with a 5-day Free Trial Download Premium Web Charts Premium cross-platform web charts with proprietary trading tools and powerful stock screens. No downloads or installation required. Suitable for Windows, macOS, and Linux operating systems. 5-day Free Trial Trading Diary Free education, with technical updates and macro outlook. Join Now
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