Talking ASX Live on Sky Business

Today I was interviewed by Carson Scott on Trading Day, Sky Business channel on the Australian market, the ASX200, gold, oil and the Australian dollar.  Specifically I was asked about the significance of the current 600 level with the ASX200.

I talked about the level becoming more significant as time goes on and for as long as it remains a resistance level.  The more it is spoken about, like Carson and I did today on live TV, the more it may influence the decision making process of people.  This may result in diminished demand and a lack of confidence in buying stocks until the 6000 level is cleared.

This is why so many levels becoming self-fulfilling prophecies.  It will happen because it is happening.  I also mentioned how many markets are in ‘wait and see’ mode, especially the ASX200, gold remaining quite steady around $1200 and the AUD/USD remaining within its range between 0.76 and 0.7850.

Stuart McPhee
Stuart McPhee
Australian private trader for nearly 20 years, author, trading coach, licensed adviser and regular speaker at major trading events all around the world. Graduate of RMC Duntroon and former Australian Army Officer.