Emerging Channel Down pattern in its final wave was identified on the ASX 200 4 hour chart. After a strong bullish run, we find ASX 200 heading towards the upper triangle line with a possible resistance at 8181.8730. If the resistance shows to hold, the Channel Down pattern suggests a rebound back towards current levels.
ASX 200 is approaching a resistance line of a Channel Down. It has touched this line numerous times in the last 32 days.
