##{"id":49828,"date":"2016-05-09T10:50:45","date_gmt":"2016-05-09T00:50:45","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2016\/05\/09\/asx200-upside-still-favoured\/"},"modified":"2016-05-09T10:50:45","modified_gmt":"2016-05-09T00:50:45","slug":"asx200-upside-still-favoured","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2016\/05\/09\/asx200-upside-still-favoured\/","title":{"rendered":"ASX200: Upside Still Favoured"},"content":{"rendered":"

By Nick Linton-Ffrost<\/p>\n

Upside more favoured while 5150-75 support holds<\/strong><\/p>\n

Upside view – if the ASX200 holds above 5150\/75 and trades above 5350\/5400 for more than 5 days we will be expecting a move towards 5700 and potentially 6000.<\/p>\n

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5700 = height of 12 month down trend channel added to break point around 5150 ( green markings)<\/li>\n
6000 = height of the eight month trading range between 4700 and 5400 added to the 5400 break point (orange markings)<\/li>\n<\/ul>\n
Sideways view – if the market remains below 5350\/5425 and trades under 5150\/5175 for more than 3 days we will be looking for 2-3 weeks of sideways trading between 4800 and 5200. Under this scenario we will be tagging the recent rally from 4700 to 5400 as a near term three legged correction within the eight month structure.<\/p>\n
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<\/p>\n
Another trading idea from<\/strong><\/p>\n
Fifth Wave |<\/strong> fwtc.com.au<\/strong><\/a> <\/p>\n
FW generates over 150 Trading Alerts on the ASX100 each year. We are a subscription service specialising in short term technical strategies based on 27 years experience<\/strong>.<\/strong><\/p>\n
AFSL 319830 |<\/strong> Disclaimer<\/strong><\/a><\/p>\n
Reprinted with permission of the publisher.<\/em> Content included in this article is not by association the view of FNArena (see our disclaimer<\/a>).<\/em><\/p>\n
Technical limitations <\/strong><\/em><\/p>\n
If you are reading this story through a third party distribution channel and you cannot see charts included, we apologise, but technical limitations are to blame.<\/strong><\/em><\/p>\n
Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)<\/a>" – Warning this story contains unashamedly positive feedback on the service provided.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Nick Linton-Ffrost of Fifth Wave suggests the ASX200 can still ultimately push towards 6000 as long as support holds.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/49828"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=49828"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/49828\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=49828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=49828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=49828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}