ASX to find sellers at current swing highs?ASX200 - 24h expiry
Although the bulls are in control, the stalling positive momentum indicates a turnaround is possible.
This is negative for short term sentiment and we look to set shorts at good risk/reward levels for a further correction lower.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
The hourly chart technicals suggests further upside before the downtrend returns.
Further downside is expected although we prefer to sell into rallies close to the 7280 level.
We look to Sell at 7275 (stop at 7315)
Our profit targets will be 7175 and 7150
Resistance: 7305 / 7435 / 7600
Support: 7215 / 7120 / 7010
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