Technicals | May 12 2014
By Nick Linton-Ffrost
We are working on the assumption that the ASX 200 (XJO) has failed to run after breaking out of the six month trading range which improves the odds for a pull back to 5250.
Given the index spent the week trading below 5550 our conviction on this call has moved up a notch.
A move below 5425 should trigger a sell-off towards to 5250 over the next 2-3 weeks while trading above 5550 negates our view and should trigger a move to 5750.
Another trading idea from
Fifth Wave | fwtc.com.au
FW generates over 150 Trading Alerts on the ASX100 each year. We are a subscription service specialising in short term technical strategies based on 27years experience.
AFSL 319830 | Disclaimer
Reprinted with permission of the publisher. Content included in this article is not by association the view of FNArena (see our disclaimer).
Technical limitations
If you are reading this story through a third party distribution channel and you cannot see charts included, we apologise, but technical limitations are to blame.
Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)" – Warning this story contains unashamedly positive feedback on the service provided.
