Sunday, 8 May 2016

ASX 200 daily and weekly charts, lower from dual trend line resistance

Daily chart. Charts include after hours trade.

Weekly line chart most clearly shows the primary wave count that I am working with, with wave 3 lower toward 4000 set to begin from near current levels. Has wave C peaked at the dual trend line resistance shown on the daily chart? It may have, but need a move below 5200 to shift the chances from possible to likely, in my view.