Cabana Capitals Blog Technical Analysis Should we expect a breakout or a rebound on ASX 225?

Should we expect a breakout or a rebound on ASX 225?

May 6, 2024May 6, 2024| cabana-admincabana-admin| 0 Comment| 6:12 am
Should we expect a breakout or a rebound on ASX 225? post thumbnail image
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ASX 225 is heading towards the resistance line of a Rising Wedge. If this movement continues, the price of ASX 225 could test 7704.2466 within the next 12 hours. It has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.

Supported by Upward sloping Moving Average

Target: 7704.2466 Entry: 7683.3 Stop: 7647

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