ASX Bounced Off Support, Potential For A Further Rise!

ASX bounced nicely off our first support level at 5390 (61.8% fibonacci extension , horizontal swing low support) where a further rise might occur above this level pushing price up to our major resistance at 5861 (50% fibonacci retracement , Horizontal swing high resistance).

Stochastic (21,5,3) is also bounced off support where we might see a further rise in price.