Technical Update - ASX 200 short term range bound but down trend remains
Kim Cramer Larsson
Technical Analyst, Saxo Bank
ASX 200 is range bound between 6,600 and 6,400. Break is needed for direction. RSI is below 40 and trend is down indicating break out is to the down side. A close below 6,407 ASX 200is likely to slide further to around 6,198 but could dip to 6K .
If closing above 6,600 a rebound could spike up to touch 6,700 before down trend very likely resumes.
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