ASX is approaching our first support at 5586.0 (Horizontal overlap support, 61.8%, 100% Fibonacci extension, 50% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 5908.9 (horizontal swing high resistance, 38.2% Fibonacci retracement). Stochastic (89,5,3) is also approaching support and we might see a corresponding bounce in price should it bounce off this level.