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Technicals - ASX200 index - potential for a sell signal to be generated - 5500 is key level to watch

Angela Mangan

QMG Pty Ltd

The ASX200 index previously generated a technical buy signal at 5429 on 15/7/16 and subsequently reached the nominated upside technical target located at 5550 on 27/7/16 as detailed in a previous Wire.(VIEW LINK) The potential has now emerged for a technical top formation / sell signal to be generated by the ASX200 index. A close below 5500 is required to generate a technical sell signal which in that scenario would target a pullback to 5300.

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Angela Mangan
Angela Mangan
Technical Analyst
QMG Pty Ltd

Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.

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