The ASX 200 index encountered both the declining trendline (from April 2011) and resistance at 4300. Low volume indicates a lack of enthusiasm from buyers. The strong red candle warns of another test of 3850; follow-through below Tuesday’s low would confirm.
* Target calculation: 4000 – ( 4500 – 4000 ) = 3500
Gold, Stocks & Forex 
Have I missed something please, but is not this chart (and some others) a week behind? Thanks
Yes. I only published the ASX and Asia a few hours ago. It was mentioned at the end of yesterday’s newsletter.
Great Technical analysis! Jan.
Don’t you mean Wednesday low?
No. Yesterday’s low of +/- 4200. Another red candle would confirm.