ASX continues to move lower.

OANDA:AU200AUD   Australia 200
ASX200 - 24h expiry - We look to Sell at 7221 (stop at 7245)

We are trading at overbought extremes.
A Doji style candle has been posted from the high.
This is negative for sentiment and the downtrend has potential to return.
The hourly chart technicals suggests further upside before the downtrend returns.
Further downside is expected although we prefer to sell into rallies close to the 7221 level.

Our profit targets will be 7155 and 7000

Resistance: 7320 / 7600 / 7870
Support: 7145 / 7000 / 6860

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