Index Analysis ASX200
Stock Index – ASX200
The ASX200 has reacted lower off weekly resistance at 6150 as recent buyers start to bail. We are watching for further pressure on the index as more selling enters the market but do expect buyers to step back in to respect and defend the weekly trend up. Watching now for failed lows and minor inside higher low to build for a new move up to continue the weekly trend through 6150 and towards the all time highs. A lot of work still to do though as the US resets itself after a healthy correction and tries to filter through the noise.
Index : Stock Index – ASX200
Current Price : 6028
Status : On watch for further selling pressure