Cabana Capitals Blog Technical Analysis ASX 225 – getting close to psychological price line

ASX 225 – getting close to psychological price line

ASX 225 – getting close to psychological price line post thumbnail image

ASX 225 is moving towards a resistance line. Because we have seen it retrace from this level in the past, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 14 days and may test it again within the next 3 days.

Supported by Upward sloping Moving Average

Target: 8009.5 Entry: 7961.9 Stop: 7940.776

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