ASX approaching resistance, potential drop! ASX is approaching our first resistance at 5927.6 (horizontal swing high resistance, 50% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 5694.0 (horizontal pullback support, 61.8% Fibonacci extension, 50% Fibonacci retracement.
Stochastic (89,5,3) is also approaching resistance where we might see a corresponding drop in price.
