ASX confidence growing

The ASX 200 is growing in confidence. Having penetrated its descending trendline, to suggest a bottom, the index rallied to test resistance at 3400. Rising troughs on 13-week Money Flow suggest buying pressure. Retracement that respects support at 5200 would strengthen the signal, while breakout above 5400 would confirm a primary up-trend.

ASX 200

2 thoughts on “ASX confidence growing

  1. DR V G says:

    Why is this optimism? a bubble or true strength.

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