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Australia 200
Short

ASX approaching resistance, potential reversal!

By ICmarkets
Broker

ASX is approaching its resistance at 5911 (76.4% & 61.8% Fibonacci retracement, horizontal overlap resistance) where it could potentially drop to its support at 5823 (38.2% Fibonacci retracement, 61.8% Fibonacci extension). We have also identified another resistance at 5951 (100% & 61.8% Fibonacci extension, horizontal swing high resistance).
Stochastic (55, 5, 3) is approaching its resistance at 97% where a corresponding reaction could occur.
ASXaudaussieindexBitcoin (Cryptocurrency)Chart PatternsForexforexsignalsHarmonic PatternsshortTrend AnalysisUSD
ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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