The ASX200 is still heading higher longer term but may see some short term chop

Index Analysis


Time Frame : Daily Chart

Index – ASX200


The ASX200 has seen some choppy days of late catching many traders off guard as price traded against the grain. We see further short term choppy action as trade war fears continue to weigh on sentiment and long term weekly charts hover around overbought levels. The upside is that there is a few levels of support that should mute any pullback and provide buying opportunities when the time is right. The daily and weekly trends are still up so we expect that to continue to be the theme in the longer term