ASX 200 Technical Analysis - Thursday, May 27

(Video length 00:28:27)

  • ASX200, CBA, ANZ, BHP, RIO, FMG, IRON ORE, COPPER, CRUDE, AUDUSD, GOLD, NCM Technical Analysis Elliott Wave
  • Overview: Iron Ore and copper have further downside, they are in a larger corrective pattern but only in their first leg down and of course affecting resource stocks.
  • The strength for the ASX200 will come from the banks as they are in an uptrend
  • ASX 200 Technical Analysis: Bullish ASX200 and banks and bearish resources 
  • Trading Levels: Support at 7000
  • ASX200 Elliott Wave: Wave v of (iii)
  • ASX200 Trading Strategy: holding long with adjusted stop-loss order

 

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