ASX200 gets thumped on the open but there may be support building

ASX200 Index Analysis

Index – ASX200

The ASX200 is under pressure from the open as sellers pile in after the DOW falls over 1100 points overnight. We see price as extended but it will still have a lot of work to do to increase the confidence of buyers. Support around the 5850 zone needs to hold today for a reaction higher. If not we may see some further selling pressure in the coming days.

Index : Index – ASX200

Current Price : 5855

Status : On watch for higher lows