On Daily scale AU200 is in a downtrend, I believe it is still in the first wave even though wave 1 on SP500 and Nikkei seems complete.
The price is in wave 4 on 4h scale (green marking). Right now it is at the bottom of a running flat channel. RSI and Stoc are in oversold territory. These advocates for price to move up on Monday. It should go up to 6300 at least, but may shoot to 6500 zone converting running flat hypnosis to irregular flat. But we know that the new leg up must have 5 wave structure, so it should be clear whether the move is complete or not once the price approach 6300 zone, hopefully :-)
After that 5 wave move up, the downtrend will resume with the target around 5600 area which is the bottom line of the multi-year price channel.
The price is in wave 4 on 4h scale (green marking). Right now it is at the bottom of a running flat channel. RSI and Stoc are in oversold territory. These advocates for price to move up on Monday. It should go up to 6300 at least, but may shoot to 6500 zone converting running flat hypnosis to irregular flat. But we know that the new leg up must have 5 wave structure, so it should be clear whether the move is complete or not once the price approach 6300 zone, hopefully :-)
After that 5 wave move up, the downtrend will resume with the target around 5600 area which is the bottom line of the multi-year price channel.