Angela Mangan

The ASX200 index previously generated a technical buy signal at 5543 on 8/12/16 and subsequently reached the nominated upside technical target at 5725 on 3/1/17. Recent QMG wires higlighted that the index had moved into overbought territory on a momentum basis which was flagged as reason for caution relating to the sustainability of the rally (VIEW LINK). The ASX200 index now has the potential to generate a technical top formation / technical sell signal. A close below 5720 is required to generate a technical sell signal. The minimum downside technical target in that scenario would be located at 5500.


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