ASX approaching support, potential bounce!
ASX is approaching our first support at 5946.2 (horizontal swing low support, 61.8% Fibonacci retracement, 100% Fibonacci extension) and a strong bounce might occur above this level pushing price up to our major resistance at 6110.9 (horizontal pullback resistance, 61.8% Fibonacci extension).
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level.
Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level.
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