ASX 200 looks set for further gains
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A strong lead from Wall Street on Wednesday ahead of Independence Day could bode well for Asian indices such as the ASX 200. The daily chart shows that prices are coiling which could indicate the volatility is set to increase in the coming days or weeks. Take note that over the past couple of weeks, each dip beneath 7700 has been bought Which shows demand above the June low.
The one-hour chart shows a strong rally from the weekly S1 pivot points and the bias is removed up to 50-day average which sits near the weekly pivot point and just beneath the monthly pivot point. Therefore, dips toward 7700 look appealing for bullish swing trades towards the 50 day average.
The one-hour chart shows a strong rally from the weekly S1 pivot points and the bias is removed up to 50-day average which sits near the weekly pivot point and just beneath the monthly pivot point. Therefore, dips toward 7700 look appealing for bullish swing trades towards the 50 day average.
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