Technicals - ASX200 index - major resistance barrier located at 5996

Angela Mangan

The ASX200 index is rated as a technical hold. Currently there is no sign of a (new) technical top formation emerging. Major resistance is located at 5996, which was the April 2015 peak, and as highlighted on chart below, looms as a major technical barrier (within the broad long-term trend channel). It is also worth noting on a momentum / RSI basis that the index is approaching the same overbought level that occurred in early 2015.


Angela Mangan

Angela has 30 years experience in the technical analysis field. Angela joined QMG as a technical analyst in May 2014. Angela was the technical analyst at Bell Potter for 16 years, providing technical analysis coverage to the retail and wholesale...

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