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Potential Selling Pressure still to Come ASX200
Time Frame : Daily/Weekly
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ASX200 Index
The ASX200 managed to rally since our last alert, bringing out more bullish action as price continued higher. Longer term, we still expect to see the daily uptrend which started at the beginning of the year will continue, but expect to see further selling over the coming few days. We have our eye on a few key intraday levels that may provide some support for our bullish thesis. The first is around 6300 and then down to 6250. If these levels break, especially 6250, then we may see a larger corrective move lower so will be watching the action play out and for evidence that price is finding major support. Content for now to see how the action plays out over the next few days before adding further risk to the market.
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Index : ASX200
Current Price : 6328.6
Status : On watch for further Selling pressure
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Alert History
Previous Alert 5/04/19
Potential Sell Entry Alert to Watch ASX200
Time Frame : Daily/Weekly
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ASX200 Index
The Index has had a spike up through 6270, since the last alert, to squeeze out the sellers who entered off the minor lower high. We see the action as heavy after the clean out of the highs, both on the daily and weekly charts so will be watching the following action with a clear focus. The key level for both bulls and bears going forward is now 6100 as if this comes under pressure we may see bears come out in force. If higher lows can hold above this levels, then we can expect another squeeze higher through to 6350 and potentially beyond. Taking a cautious approach from here.
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Index : ASX200
Current Price : 6184.8
Status : On watch for a sell entry setup
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Previous Alert 20/03/19
Potential Sell Entry Alert to Watch ASX200
Time Frame : Daily/Weekly
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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.
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Index : ASX200
Current Price : 6162.4
Status : On watch for a sell entry setup
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Alert History
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Previous Alert 25/03/19
Potential Sell Entry Alert to Watch ASX200
Time Frame : Daily/Weekly
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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.
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Index : ASX200
Current Price : 6130.1
Status : On watch for a sell entry setup
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Alert History
Previous Alert 20/03/19
Potential Sell Entry Alert to Watch ASX200
Time Frame : Daily/Weekly
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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.
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Index : ASX200
Current Price : 6162.4
Status : On watch for a sell entry setup
