Technical Update - Range bound ASX 200 needs break out for direction
Kim Cramer Larsson
Technical Analyst, Saxo Bank
Rangebound S&P ASX 200 bounced Friday from support at 6,540. That is the key level to look out for. If we see a daily close below June low at 6,407 is likely to be taken out.
To resume uptrend ASX200 must close above 6,764 which is likely to initiate a move to resistance at 6,930.
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