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

Author: 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.

	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 Author: 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.	Share: A+ A− Incredible Charts Premium stock charting with proprietary trading tools and powerful stock screens. Sign up for free 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. 7-day Free Trial Trading Diary Free education, macro outlook and technical updates. Join Now
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