WES, WOW and the ASX200
The eight-year chart below of the ASX200 shows that the Australian bourse remains in a primary bear market between the down-trending black channel lines. The switch to a primary bull market requires a break-out above the black upper channel line. For this to occur, the ASX200 needs to remain above the support zone of 5330…
ASX200 relatively weak compared to the S&P500
From early May to early June the ASX200 attempted to break through the resistance zone between 5335 and 5450 (the top blue rectangle). This proved to be too much for the ASX200 yet again, now making this resistance zone an even more significant zone. Meaning that it will become more and more difficult to break…
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