A completed Money Flow (13-week) trough above zero on the ASX 200 would indicate strong buying support, suggesting a reversal.
* Target calculation: 4300 - ( 4600 - 4300 ) = 4000
Wednesday, July 14, 2010
Australia: ASX Outlook
The All Ordinaries is headed for another test of the new resistance level at 4500. Respect would confirm the primary down-trend, while breakout above 4650 would signal a reversal. Momentum (21-day) bearish divergence favors a reversal.
A completed Money Flow (13-week) trough above zero on the ASX 200 would indicate strong buying support, suggesting a reversal.
* Target calculation: 4300 - ( 4600 - 4300 ) = 4000
A completed Money Flow (13-week) trough above zero on the ASX 200 would indicate strong buying support, suggesting a reversal.
* Target calculation: 4300 - ( 4600 - 4300 ) = 4000
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