Technicals - ASX200 index - major resistance barrier located at 5996
Angela Mangan
QMG Pty Ltd
The ASX200 index is rated as a technical hold. Currently there is no sign of a (new) technical top formation emerging. Major resistance is located at 5996, which was the April 2015 peak, and as highlighted on chart below, looms as a major technical barrier (within the broad long-term trend channel). It is also worth noting on a momentum / RSI basis that the index is approaching the same overbought level that occurred in early 2015.
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Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.
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4 stocks mentioned
Angela Mangan
Technical Analyst
QMG Pty Ltd
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.
Expertise
Angela Mangan
Technical Analyst
QMG Pty Ltd
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.
Expertise
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