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