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− Incredible Charts 10.1 Windows software with proprietary trading tools and stock screens. Download 5-Day Free Trial Try it Now! Incredible Charts 11.0 Proprietary trading tools and stock screens now in your browser. Free Trial 30-Day Free Trial Try it Now! Trading Diary Free education, macro outlook and technical updates: Join Now
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