Almost a perfect Elliot final corrective wave plus Head & Shoulders formation suggesting a bearish move on the 2-4 hourly interval. As long as it doesn't break through the downward trending resistance, then there should be further downside towards price target. Perhaps, 2 price targets should be established; 1 for H&S and the other through Fib ext.
Looks like the ASX 200 is currently trending downwards trading within a channel with good upper and lower range. Short-term rebound is expected towards the channel ceiling, however with bearish pressure towards a strong support at around 5635. Additional shorting opportunity "may arise" when a downward break through the upward trending RSI (from 06/06/17 05;00 to...
