Monday, 22 June 2015

ASX 200 5660 should cap any rally if "accelerated decline" scenario is imminent

4 hour chart zooms in to the ASX 200 decline since late May. 5660ish should cap any rally if the bearish "accelerated decline"scenario described in my weekend post is to remain imminent. That level/zone coincides with the down trend line drawn from the April peak, and the Fibo 61.8% retracement of the decline from late May.



Daily chart better illustrates the down trend line drawn from the April peak.