AUS200 Wave Analysis 24 November, 2020

• AUS200 rising inside impulse 3  

• Likely to reach 7000.00

AUS200 has been rising strongly in the last few trading sessions inside the impulse 3 of the intermediate impulse sequence (C) from the middle of September.

The index earlier broke the resistance level 6530.00 (top of the previous impulse wave (i)) and the daily up channel from June – which added to the bullish pressure on AUS200.

AUS200 is likely to rise further toward the next round resistance level 7000.00 (target price for the completion of the active impulse wave (C)).