Thursday, 11 September 2014

ASX 200 testing key trend line drawn from mid 2012

Daily chart including after hours trade shows the ASX 200 testing key trend line support. Sorry if you need to squint a bit. The recent wedge indicates that we should look for a break lower.

Gold breaks lower, trend channel offers target around 1130

Daily chart shows Gold breaking lower from the triangle of the past year, then lower from the recent down trend channel, then today poking briefly below the June low. Another foray below that June low will make much lower levels likely in coming weeks and months.

Weekly chart down trend channel offers a target around 1130 at the lower trend line.