Australia 200Short
ASX is approaching resistance, potential for a reversal!
ASX is approaching its resistance at 5861 (61.8% Fibonacci extension, 61.8% Fibonacci retracement, 50% Fibonacci retracement) where it could potentially react off it, causing price to drop to its first immediate support at 5811 (61.8% Fibonacci extension, 38.2% Fibonacci retracement). If it breaks past this level, it could drop to the next support at 5774 (61.8% Fibonacci extension, 50% Fibonacci retracement). We have also identified another resistance at 5903 (61.8% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching resistance at 98% where a corresponding reaction could occur.
Stochastic (89, 5, 3) is approaching resistance at 98% where a corresponding reaction could occur.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.