Australian is entering in a new Covid-19 Range, the Australian Economy is looking affected in a short term again, and that includes stocks. The AUS200 Indice for Australian Stock have been ranging since these new news, now the range is viewed in a multi-frame way.
A Strong sell is recommended at levels: 7360-7390, following the range. As seen, The Momemtum indicator and the RSI, even the MACD, sustain this coming short up to the below levels showed on the graph. In the Fundamental Way, The short is favourable due to increasing Covid-19 cases in Australia.
Any violation of the 7420 level would indicate a new ATH.