Technicals – ASX200 index - risk remains for a renewed sell off
Angela Mangan
QMG Pty Ltd
The ASX200 index generated a technical sell signal at 5229 on 2/11/16, as detailed in recent Wire(VIEW LINK). Yesterday it reached an intra-day low of 5052 (versus the nominated downside technical target located at 5050). The expected rebound today on the ASX200 index may continue in the short-term but is unlikely to be sustained. The risk and expectation is for a renewed sell off to occur in the ASX200 index. If technical base forming is to ultimately occur, a key part of this process is the requirement for a renewed pullback ( after the initial rally off the recent lows). A period of consolidation is required above the recent lows.
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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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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.
Expertise
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.
Expertise
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