Technical analysis

AUS200 Wave Analysis – 7 January, 2022

AUS200 Wave Analysis – 7 January, 2022

• AUS200 index reversed from round resistance level 1000.00

• Likely to fall to support level 910.00

AUS200 index recently reversed down with the daily Bearish Engulfing from the major resistance 7645.00 (earlier multi-month high from August) – which started the active wave (ii).

The resistance zone near resistance 7645.00 was strengthened by the upper daily Bollinger Band.

AUS200 index can be expected to fall further toward the next support level 7252.33 (low of the previous correction 2 from the middle of last month).

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