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Asxlong

ASX approaching support, potential bounce! ASX is approaching our first support at 5577.4 (horizontal overlap support, 50% Fibonacci retracement, 61.8% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 5976.5 (horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement). Stochastic (89,5,3) is approaching support and we might see a corresponding bounce in price should it bounce off this level.
OANDA:AU200AUDLong
by FlowState
ASX testing resistance, potential drop! ASX is testing our first resistance at 5989.2 (horizontal swing high resistance, 76.4% Fibonacci retracement) and a strong reaction might occur below this level, pushing price down to our major support at 5871.9 (horizontal swing low support, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also seeing a bearish divergence and is approaching our major resistance where a reaction off this level might be a good precursor for a potential drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:AU200AUDShort
by Tickmill
ASX approaching resistance, potential drop! ASX is approaching our first resistance at 5989.2 (horizontal swing high resistance, 76.4% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 5871.9 (horizontal swing low support, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also seeing a bearish divergence and is approaching our major resistance where a reaction off this level might be a good precursor for a potential drop in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
OANDA:AU200AUDShort
by easyMarkets
ASX approaching its resistance, potential reversal!ASX is approaching its resistance area between 5851 to 5885 (50% Fibonacci retracement, 38.2% Fibonacci retracement, 100% Fibonacci extension, horizontal pullback resistance) where it could potentially react off it, causing price to fall to its support at 5692 (horizontal swing low support). We have also identified another resistance at 5960 (horizontal swing high resistance, 76.4% Fibonacci retracement). Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding reaction could occur.
OANDA:AU200AUDShort
by ICmarkets