Technicals - ASX200 INDEX - potential for secondary technical buy signal to be generated
QMG Pty Ltd
The ASX200 index previously generated a technical buy signal at 5081 on 3/3/16. The index technicals turned positive at that point, and despite the market volatility, the technicals have remained positive during the subsequent period. The potential now exists for a secondary technical buy signal to be generated. A close above 5170 would serve to re-enforce the expectation for a rally to 5380 - which is the minimum upside technical target. The European markets experienced a positive technical break overnight given index technical buy signals were generated by the EuroStoxx50 index and Dax.
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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.
Expertise
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.