RooTrades

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AXJO 100% | 1
RooTrades RooTrades AXJO, D, Long ,
AXJO: Short Term potential bounce on ASX200
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AXJO, D Long
Short Term potential bounce on ASX200

Continued weakness in the ASX200 after reaching high of 5,980 level. Support being seen at the 5,433 level + RSI divergence. Given the weak economic backdrop, I see this more as a potential bounce which could reach 5,688. Target Entry 5,433, SL @ 5,380, TP @ 5,648. Reasons: - RSI Divergence - Potential Wedge completion - Favorable risk/reward ratio

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