Buying AU200 previous resistance.ASX200 - 22h expiry - We look to Buy at 6875 (stop at 6825)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
The current move lower is expected to continue.
The bias is still for higher levels and we look for any dips to be limited.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 7020 and 7140
Resistance: 6965 / 7140 / 7340
Support: 6860 / 6770 / 6685
Disclaimer – Saxo Bank Group.
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