Buyers running out of steam as seller start the pressure lower

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