ASX200 resume its battle with multi week resistance
The ASX200 this week has resumed its battle with multi-week trend channel resistance, which currently resides in the 8325/30 area.
A sustained break and close above here would set the ASX200 up for a run towards 8450 into year-end. Conversely, a failure to see a sustained close above 8320/25 combined with a fall through support at 8110/00 would warn that a medium-term high has been struck and that a deeper pullback is underway.
ASX futures closed 68 points (-0.81%) lower at 8308, which points towards the ASX200 opening this morning at ~8276.
A sustained break and close above here would set the ASX200 up for a run towards 8450 into year-end. Conversely, a failure to see a sustained close above 8320/25 combined with a fall through support at 8110/00 would warn that a medium-term high has been struck and that a deeper pullback is underway.
ASX futures closed 68 points (-0.81%) lower at 8308, which points towards the ASX200 opening this morning at ~8276.
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