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.

ASX 200

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