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AUS200 Wave Analysis – 10 March, 2019

  • AUS200 reversed from key support level 5400.00
  • Likely to rise to 6115.00

AUS200 today reversed up sharply from the key support level 5400.00 (which stopped the previous multi-week correction at the end of 2018) standing close to the lower weekly Bollinger Band and the 61.8% Fibonacci retracement of multi-year uptrend from eth start of 2016.

The upward reversal from this support area is likely to form the weekly candlesticks reversal pattern Hammer – if the index stay near the current levels.

AUS200 is likely to rise further toward the next resistance level 6115.00 (former support from the start of 2019).

AUS200 is likely to rise till 6115.00

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