A difficult upcoming week for the ASX 200

Next week could be carnage !

Or at least, difficult for the ASX 200 (XJO) Index.

Short term indicators are turning lower, longer term technicals are losing steam and the AUDJPY is in the early stage of suggesting “risk-off” as the media has coined it.

Incidentally, for the month of July, the XJO rose 0.5%.

As I’ve written over the past few weeks under the heading of “being aware of illusions”, the ASX 200 has continued to hover around the same price it was 2 months ago.

And as readers have noticed, I’m not short of having a view.

10 days ago, I published this opinion (in the link below) along with several price targets on the ASX 200.

https://lnkd.in/gSdaHNN

The first “gap” mentioned in that post was reached in todays trading.

My main message is to be prepared with your “shopping list” and your Buy prices.

31 July 2020
by Rob Zdravevski
rob@karriasset.com.au

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