ASX200 - the bulls in control for now

PEPPERSTONE:AUS200   Australia 200 Index
Everyone is talking about the moves in the FTSE100, but the ASX200 is having a moment - we see solid rate of change, the index is still no where near overbought, and we see 4 days of rising range expansion. Momentum is clearly to the upside, which suggests dips should well supported and shallow - hard to be short on timeframes 4hr+ and favour this higher but a move below the former breakout area of 7723 and I would be more cautious.

(Thoughts from Chris Weston)

Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.