Technicals - ASX200 INDEX - potential for secondary technical buy signal to be generated
The ASX200 index previously generated a technical buy signal at 5081 on 3/3/16. The index technicals turned positive at that point, and despite the market volatility, the technicals have remained positive during the subsequent period. The potential now exists for a secondary technical buy signal to be generated. A close above 5170 would serve to re-enforce the expectation for a rally to 5380 - which is the minimum upside technical target. The European markets experienced a positive technical break overnight given index technical buy signals were generated by the EuroStoxx50 index and Dax.
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.