ASX 200 SPI futures have broken above the 8400 level and May 16 high of 8424, opening the door to a bullish setup—provided the price holds these levels into the close.
Longs could be considered above 8424 with a stop below 8400 for protection, targeting a retest of the record high at 8581. While momentum indicators are nearing overbought territory, they continue to trend higher, keeping the bullish bias intact.
A close below 8400 would invalidate the setup.
Fundamentally, the underlying index remains expensive across several valuation metrics—especially the banking sector, where multiples are hard to justify. But that hasn't stopped the rally so far. Optimism following the RBA’s dovish shift in May is helping fuel the latest breakout.
Good luck!
DS
Longs could be considered above 8424 with a stop below 8400 for protection, targeting a retest of the record high at 8581. While momentum indicators are nearing overbought territory, they continue to trend higher, keeping the bullish bias intact.
A close below 8400 would invalidate the setup.
Fundamentally, the underlying index remains expensive across several valuation metrics—especially the banking sector, where multiples are hard to justify. But that hasn't stopped the rally so far. Optimism following the RBA’s dovish shift in May is helping fuel the latest breakout.
Good luck!
DS
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면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.