Technicals | Jun 23 2014
By Nick Linton-Ffrost
We suspect the seven week correction between 5375 and 5550 is complete and a move towards 5650 over the next 2-3 weeks is on the cards.
The bounce from the 5350-5380 pivot level indicates the correction is most likely complete and a few days trading above 5425 should signal the start of a move north.
Trading below 5400 for more than a day or two negates our view and turns the odds in favour of a dip towards 5150.
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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