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ASX approaching its resistance, potential reversal!

Oleh ICmarkets
Broker
ASX is approaching its resistance area between 5851 to 5885 (50% Fibonacci retracement, 38.2% Fibonacci retracement, 100% Fibonacci extension, horizontal pullback resistance) where it could potentially react off it, causing price to fall to its support at 5692 (horizontal swing low support). We have also identified another resistance at 5960 (horizontal swing high resistance, 76.4% Fibonacci retracement).
Stochastic (89, 5, 3) is approaching its resistance at 98% where a corresponding reaction could occur.
ASXasxlongasxshortaussieindexBitcoin (Cryptocurrency)Chart PatternsForexforexsignalsHarmonic PatternsTrend AnalysisUSD
ICmarkets
Broker
IC Markets is an online forex broker specialized in providing transparent trading solutions to both retail and institutional investors alike. We provide superior execution technology, lower spreads and unrivaled liquidity.
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