ASX200 Index Analysis

ASX200 Index Analysis

Time Frame : 30 Min Chart

Watching for range support to hold

The ASX200 has remaining in the range today…for now. Price action is currently seeing another selloff as traders get nervous of the rising Delta variant cases. Price held the range support on the opening drive lower and then bounced hard showing that bulls are willing to continue to defend the level. We want to see the 7220 zone hold today into the close and see if the bargain hunting hits the US tonight. If the level can not hold then a deeper correction from the long term rally may be on the cards.

Index : ASX200 Index

Current Price : 7247

Status : On watch for 7220 to hold