The ASX 200 looks set to resume its uptrend this morning with SPI futures pointing to a gain of 17pts on the open

David Scutt

Scutt Partners

The ASX 200 looks set to resume its uptrend this morning with SPI futures pointing to a gain of 17pts on the open. Given its proximity, most investors will be watching the 5398 point level closely today, the 50% retracement of the September highs to the October lows. Should the index clear that level successfully, something that looks likely given the strong gains on Wall Street overnight, a test of the 200-day moving average at 5426 will be in play. (VIEW LINK)


David Scutt
Independent Market Strategist
Scutt Partners

David is a Director of Scutt Partners Pty Ltd and has successfully worked in the financial services markets over the past 12 years with both large and smaller banking groups. He has provided strategic financial analysis for currency and interest...

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.