ASX 200 Elliott Wave Technical Analysis https://tradinglounge.com/
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S&P/ASX 200 Index (^AXJO) Technical Analysis Elliott Wave Forecast. Plus CBA ANZ BHP RIO FMG, IRON ORE, COPPER, CRUDE, AUDUSD, DXY, NIFTY 50, CHINA A50 Shanghai Composite SSEC.
ASX 200 Index Overview: Looking for a move higher to 7550. Only if this level becomes the support can you trade long.
Commodities Copper and Iron Ore can now have lows in place. this is also being confirm by the AUDUSD and the DXY US Dollar Index. Resource stocks are still lagging,
but we will aim to get the timing right for long trade in due course
Australian Stocks: Finance and resources stocks are heading lower, that said the resources stocks are in their final stages of completion (2 weeks) whereas the
finance sector stocks are just starting their decline into Intermediate Wave (4)
Trading Levels: Minor Level 5; 7,500 as the market support
ASX200 Elliott Wave: Working to counts, however an abc rally to the 618% 7550 as Wave (b) top can be in play
ASX200 Trading Strategy: Long trades to would require 7530 as the tested support, otherwise expect lower price especially if 7465 becomes the resistance.
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ASX200 Profile
The S&P/ASX200 index represents the 200 largest stocks on their weighted market capital in the Australian stock market "Australian Securities Exchange" (ASX). This ASX200 index represents 72% total market value of the stocks trading on the Australian Securities Exchange.
The Charts in this video are from a Contract For Difference (CFDs) perspective, meaning the data feed is partly from the ASX cash market and the SPI futures markets plus fair value as a CFD product for CFD Trading.
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