We are priced in the area where I felt the ASX200 would hit.
The daily chart showing RSI & StochRSI overbought. Yesterday and today the ASX200 touched the top of the Linear Regression. This is very crucial as the direction is down, it needs to close above it for a few days to have any chance of turning up longer term. But we are hitting resistance every move up it is making. It will be massive if that happens.
If we look at the weekly chart 6325 is the mid-line, a weekly close above that and the Covid-19 drop will be over.
Please note: The Treasurer has announce we are in recession, but technically that would be at the end of the month. Generally the Markets Bottom when recession is confirmed. But the question remains are we heading far worse?
The daily chart showing RSI & StochRSI overbought. Yesterday and today the ASX200 touched the top of the Linear Regression. This is very crucial as the direction is down, it needs to close above it for a few days to have any chance of turning up longer term. But we are hitting resistance every move up it is making. It will be massive if that happens.
If we look at the weekly chart 6325 is the mid-line, a weekly close above that and the Covid-19 drop will be over.
Please note: The Treasurer has announce we are in recession, but technically that would be at the end of the month. Generally the Markets Bottom when recession is confirmed. But the question remains are we heading far worse?
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