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<\/p>\nBy Nick Linton-Ffrost<\/p>\n
We suspect the seven week correction between 5375 and 5550 is complete and a move towards 5650 over the next 2-3 weeks is on the cards.<\/p>\n
The bounce from the 5350-5380 pivot level indicates the correction is most likely complete and a few days trading above 5425 should signal the start of a move north.<\/p>\n
Trading below 5400 for more than a day or two negates our view and turns the odds in favour of a dip towards 5150.<\/p>\n
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\nAnother 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 27years 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