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.
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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