With some indices breaking out to new highs in regular fashion, I am left wondering if the AUS200 will join the party on a break of the 2 year descending resistance hovering above. If it does, there is no visible resistance until the 2007 top at 6.581
Comment:
Resistance broke, however given RSI divergence my conviction to the upside is very low. Breakout could be a head fake.
Comment:
Breakout is gathering pace. After clearing 05/02/2008 swing high of 6.022 the next major resistance is 6.581 as noted in original analysis