AUS200 is Bullish
Price seems to have went down for a necessary retracement, on daily time frame it has retraced to the 0.382 Fib level, which is exactly the point where bulls assumed control of price action in last leg. Moreover, a double bottom formation with a bullish divergence further adds confluence to bullish sentiments. If previous lower high is broken then we can expect the retest of ALTH as per Dow theory. Targets are mentioned on the chart.
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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.