Sunday, 20 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 the aggressively bearish Elliott Wave count that I think best fits market action. Charts include all sessions trade.

Weekly. The market closed the week on the trend line drawn from the 2009 low.

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.

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