A look at the price action for the Australian ASX200 Index.
The recent price action has been very choppy and directionless leaving both bulls and bears scratching their heads. I expect that this uncertain theme will continue in the short term with the mid to longer term action largely range bound.
In the short term, I expect to see a swing lower and if recent price action is any indication, we will see the recent low taken out. This suggests a 4% move lower from current levels around 7260.
If we see the Global macro environment deteriorate, I expect to see share prices across the board come under pressure.