ASX200 Charts – Daily and 30 Minute Updated in the Members Area!!
The ASX200 has managed to bounce off the daily support area around 6887. Thanks to a nice rally in the US to end the week Friday, the ASX is expected to open stronger with traders looking to pick up some bargains. The rally stalled at the 30 minute anchor as shown on the chart and is a long way off the daily anchor at 7427 that is holding the action down. Considering all the global negative sentiment and pressure from high inflation and rate rises, I do not expect that we are in for a prolonged rally. For me, I am still risk adverse and expecting more volatility and a lot more big up and big down days to come.
For a more detailed technical view of Macro markets, check out my recent TradingView post here.
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ASX200 Daily Chart
ASX200 30 Minute Chart
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