ASX 200 Looks Set to BounceThe ASX 200 has drifted lower since its latest record high was set six days ago. 8500 held as support before doji formed on Tuesday to mark a false break of this key level. ASX 200 futures also tried but failed to break beneath it overnight.
Given the bullish divergence on the 1-hour RSI (14) and RSI (2), the bias is to seek dips towards 8500 for a cheeky long towards the December high.
Matt Simpson, Market Analyst at City Index and Forexc.com
