ASX200 Short term Setup.
Updated
ASX200 - Short term -
We look to Sell at 6115 (stop at 6141)
MACD is on a edge of a sell signal.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. 6120 continues to hold back the bears.
Bespoke resistance is located at 6120.
A higher correction is expected.
We expect prices to stall close to our bespoke level (6120).
Our profit targets will be 6032 and 6004
Resistance: 6100 / 6120 / 6140
Support: 6070 / 6030 / 5990
We look to Sell at 6115 (stop at 6141)
MACD is on a edge of a sell signal.
Early optimism is likely to lead to gains although extended attempts higher are expected to fail.
Although the bulls are in control, the stalling positive momentum indicates a possible turnaround is possible. 6120 continues to hold back the bears.
Bespoke resistance is located at 6120.
A higher correction is expected.
We expect prices to stall close to our bespoke level (6120).
Our profit targets will be 6032 and 6004
Resistance: 6100 / 6120 / 6140
Support: 6070 / 6030 / 5990
Trade closed manually
Trade closed at slight profit at expiration.
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