Tuesday, 11 August 2015

ASX 200 testing daily and weekly chart trend line supports

The ASX 200 is testing multiple trend line supports. To state the obvious, the market has two options. It is unwise to jump the gun and assume that either will eventuate.... either the supports hold and we see a rally, or supports break and the market plunges. Respect the lines until they are decisively broken.

Daily



Weekly


S&P 500 rallies from short term up trend line, still within larger up trend channel


Gold rallies to trend line resistance