For the first time in 6month, XJO aka ASX200 has spent 3 days above 200MA. Bulls should be dancing as this unprecedented at least for the last 6 months.
I will try to be brief with today’s TA. Lets analyse bull cases: - PSAR daily and weekly pointing to the bulls court - price above 50 and 200MA - LSMA and QLSMA both pointing up and price above their lines - price above historic resistance 5960 I think this is bullish at least for now.
Bears case: - price still not able to break the 6200 resistance
I think, the market is quite interesting atm and with US elections coming soon, we need to be careful with every position we take and keep out SL tight.
I will keep you posted as this market may give juicy profit when your enter at the right time. Stay safe and dont forget to smash the likes.