ASX 200 breakout, thanks RBA

Posted: February 4, 2015 in Uncategorized

RBA cut the rates to 2.25% yesterday, and ASX200 responded with the final break of a long term resistance.

This implies a next target of 6,150.

A slight retracement is likely, but if 5,550 holds is fine.

But there are quite a few triangular patterns ending somewhere March/June (SP500, Volatility Index, Gold) – which will release a bout of volatility (this does not imply negative/positive….just a pattern will be broken…we do not know which way)

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