S&P-ASX 200 may fall to 7495.00 - 7650.00

Pivot

7900.00

Our preference

Short positions below 7900.00 with targets at 7650.00 & 7495.00 in extension.

Alternative scenario

Above 7900.00 look for further upside with 8000.00 & 8150.00 as targets.

Comment

As long as the resistance at 7900.00 is not surpassed, the risk of the break below 7650.00 remains high.

Supports and resistances

8150.00 *

8000.00 ***

7900.00 ***

7727.00 Last

7650.00 ***

7495.00 ***

7320.00 **

Number of asterisks represents the strength of support and resistance levels.