Log scale weekly candlestick chart shown below, including after hours trading, which finished last week at 3910ish, well down from Friday's ASX 200 close of 4009. The mid channel trend line may provide temporary support going forward, but ultimately the ASX 200 could target the bottom trend line, currently around 2500 (not shown on this chart), and heading lower all the time.
Saturday, 1 October 2011
Weekly candlestick chart shown below. The EUR/USD continues to trend lower since it crossed below the 40 week moving average. The percentage magnitudes of two previous declines below the 40 week moving average are illustrated here. If (if!) the magnitude of the current decline is to match the previous two, it has a long way to go.