Sunday, 13 September 2015

ASX 200 testing monthly chart trend line support, short term trend is down

Monthly chart shows the ASX 200 testing trend line support, and illustrates an aggressively bearish Elliott Wave count. Charts include all sessions trade.

Daily chart shows the market trending lower. The trend could weaken if we see a rally through nearby trend line resistance. Til then, favour further downside.

4 hour chart.