More short trades to come on the ASX 200
The 5,000 points continues to prove a strong support level for the S&P ASX 200 Index. Saxo Capital Markets traders based in Sydney believe this level will limit further losses for now. That said, if the index happens to bounce any of these days, traders will have the opportunity to better position themselves for shorting the index once again, given that the trend continues to be downwards. “The 5,000 level is a 50% retracement from the all time high of 6,851 in 2007 to the GFC low of 3,121 in 2009” Saxo traders say. To know where the best levels to short the ASX 200 index are, visit: (VIEW LINK)
Saxo Capital Markets (Australia) Pty Ltd is a wholly owned subsidiary of Saxo Bank A/S, a global online trading platform specialist. We enable investors the ability to trade FX, CFDs, Stocks, Futures & other derivatives from one account....
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