A tough week on the ASX, what does next week have in store?Pretty tough week on the ASX 200. Price down around 1.5% for the week. Could be seen as a minor correction. Price has broken 50EMA and now sitting at just below a 3 month trendline and at the bottom of the Bollinger band which has historically provided strong support so we could be looking at a slightly more stable week next week as prices recover however some US markets such as Nasdaq showing signs of stress and correction which would naturally see ASX follow. Our sentiment is neutral for the week ahead with the most likely expectation being a flat(ish) week ahead but only time will tell. Trade with extra diligence over the coming weeks especially on long positions.
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