ASX200: technical analysis

in #asx200 • 7 years ago

Key levels

Support levels: 5935.0 (local lows), 5910.0 (November lows), 5845.0 (June highs).

Resistance levels: 6040.0 (local highs), 6130.0 (December 2007 lows), 6155.0 (June 2007 lows).

Trading tips

The price seems to be forming a correctional “triangle” pattern. A breakout of its upper border would allow the growth to continue.

Long positions can be opened from the level of 6040.0 with targets at 6130.0, 6155.0 and stop-loss at 5995.0.

Short positions can be opened from the level of 5910.0 with the target at 5845.0 and stop-loss at 5935.0.

Read more on LiteForex site https://www.liteforex.com/trading/technical-analysis/153619/?uid=880952068&cid=12910

7 years ago in #asx200 by
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