The ASX200 sees buyers continue to step in and squeeze the bears

Index Analysis

 

Time Frame : Daily Chart

Index – ASX200

Current Price – 6276.5

 

The ASX200 is kicking along nicely and ready to squeeze out the bears. The key level for continuation higher to get sellers scrambling to close positions, is on a push up through 6285. The bears may come back into force if price pushes below 6230 but a move like this may be short lived as the longer term weekly trend up remains in tact.

 

ASX200

 


Previous Alert 13/7/18

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

 

ASX200