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?

Should we expect a breakout or a rebound on ASX 225? post thumbnail image

The movement of ASX 225 towards the resistance line of a Rising Wedge is yet another test of the line it reached numerous times in the past. This line test could happen in the next 22 hours, but it is uncertain whether it will result in a breakout through this line, or simply rebound back to current levels.

Supported by Upward sloping Moving Average

Target: 7919.74 Entry: 7835.5 Stop: 7791.1

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