The ASX200 is squeezing out the sellers and gunning for the key 6000 level

Index Review

 

ASX200 Index

The ASX200 has had a few strong days as we have watched the price power higher to catch bears off guard and squeeze out the sellers. Price held support around 5650 and then kicked higher and now looks set to test previous highs around 5950. Price is extended so we expect to see a reaction lower from 5950 to potentially build a higher low to blast back up through the 6000 zone. Of course, price has had a lot of time to build as it was stuck between 5650 and 5800, so we may just see the ASX200 pierce through to the 6000 in one move up. We currently have a full portfolio of alerts and will watch for further opportunities to take partial exits and advantage of this run up.

 

ASX200 Index

Current Price : 5892

Status : On watch for continuation higher