ASX approaching its resistance, potential reversal!ASX is approaching its resistance area between 5851 to 5885 (50% Fibonacci retracement, 38.2% Fibonacci retracement, 100% Fibonacci extension, horizontal pullback resistance) where it could potentially react off it, causing price to fall to its support at 5692 (horizontal swing low support). We have also identified another resistance at 5960 (horizontal swing high resistance, 76.4% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding reaction could occur.
