Technicals | May 26 2014
By Nick Linton-Ffrost
The strong bounce from our ASX 200 (XJO) downside target level around 5350 last week improves the odds for more upside towards 5600 after a small pullback to say 5450.
Our view is based on the combination to be the completion of a “zig-zag” correction from 5550 to 5370 and the upside break of the near term trend line.
We suggest waiting for buy signals between 5450 and 5520 over the next few days.
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.
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