TaherJalili

Major Resistance Now in Play

Long
FX:AUS200   S&P/ASX Index
We discussed this market yesterday and how price was looking to move into the major daily chart resistance.

Price has now made this move and is looking to attempt a breakout.

This is a major level for this market and it could present multiple trading opportunities. We could expect at least some resistance here, however a breakout higher would offer higher probability trades.

A breakout higher would expose more free space for price action to move into and a potentially more explosive move.

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