Technicals | Jun 02 2014
By Nick Linton-Ffrost
We continue to favour an upside move towards 5600 given the break above the ”abc” corrective dip from 5550 to 5370.
At the end of last week the ASX 200 (XJO) pulled back to the break level around 5450 – 5480 from where we expect a bounce within the next few days.
If the bounce comes the implication is for a rally towards 5600 over the next two weeks while a few days trading below 5430 negates our view.
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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