ASX 200 is moving towards a support line which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If ASX 200 continues in its current trajectory, we could see it reach 7999.0000 within the next 7 hours.
ASX 200 is signaling a possible trend reversal on the intraday charts with price not breaching resistance.
