The ASX200 is coming under pressure today as trade issue continue

Index Analysis

 

Index ASX200

Current Price : 6247.9

 

The ASX200 is coming under pressure as trade issues between the US and the rest of the world continue to keep traders out of the action and on the sidelines. We see buyers could potentially step in around 6240 but its more likely that this level will break and price will push lower to 6175. From there it will be interesting to see where we are in the trade front and whether the market may capitulate down to long term weekly support around 5975/6000. Keeping tight risk to the market is the name of the game at this stage….or maybe time to look for short positions!