Major technical support on the ASX200 index that originated in June 2012 has been broken, with additional downside expected from current levels

Angela Mangan

QMG Pty Ltd

Major technical support on the ASX200 index that originated in June 2012 has been broken, with additional downside expected from current levels. The index had previously generated a technical sell signal at 5599 on 5/9/14, which flagged the market turning point, with yesterday's decline resulting in a secondary major downside technical break. The technical catalysts for further market downside - out of the top 20 ASX stocks (that make up the ASX20 index), 15 stocks remain rated as technical sells; key base metals recently generated sell signals.


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Angela Mangan
Angela Mangan
Technical Analyst
QMG Pty Ltd

Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.

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