ASX200 is down on support but are the bears in control yet

Potential Sell Entry Alert to Watch ASX200

Time Frame : Daily/Weekly

ASX200 Index

The Index has been hit today on the open and is right down on some key support for the bulls around the 6125 zone. We are watching today for a potential clean out of this support to suck in a few sellers and then a bounce. The weekly chart is still extended and we expect further selling pressure to come into the market. Watching for a lower high to build for the sell entry setup.

Index : ASX200

Current Price : 6130.1

Status : On watch for a sell entry setup

Alert History

Previous Alert 20/03/19

Potential Sell Entry Alert to Watch ASX200

Time Frame : Daily/Weekly

ASX200 Index

The Index has rallied without a pullback since the beginning of the year and is now looking heavy both on the short term and longer term timeframes. With all the negativity surrounding global markets and slowing economies, we see the buyers starting to lock in some gains and take a breather. We are now watching for some minor consolidation below 6200 on the index and a lower high to build for a potential sell entry setup.

Index : ASX200

Current Price : 6162.4

Status : On watch for a sell entry setup