Emerging Falling Wedge pattern in its final wave was identified on the ASX 200 1 hour chart. After a strong bearish run, we find ASX 200 heading towards the upper triangle line with a possible resistance at 8000.5455. If the support shows to hold, the Falling Wedge pattern suggests a rebound back towards current levels.
ASX 200 – approaching a support line that has been previously tested at least twice in the past
