ASX - Limitedupside with Head and Shoulders

AU200AUD


ASX200 - Intraday - We look to Sell at 6693 (stop at 6713)

The dip was bought and the rally sold resulting in the market posting little net change. An overnight positive theme in Equities has led to a higher open this morning. A bearish Head and Shoulders is forming. Trend line resistance is located at 6708. The previous swing high is located at 6705. Bespoke resistance is located at 6993. The formation has a measured move target of 6460.

Our profit targets will be 6490 and 6460

Resistance: 6673 / 6693 / 6760
Support: 6611 / 6490 / 6460