Thursday, 29 September 2011

ASX 200 set to open lower

Daily candlestick chart shown below, including after hours trading, currently at 3993, down from Wednesday's ASX 200 close of 4040. The trend is down at this time frame, and also on the weekly and monthly charts.

Note that the market has turned down at resistance from previous lows around 4100, and turned lower from the 18 day moving average for the 9th time since the April peak.