S&P-ASX 200 may fall to 7640.00 - 7840.00

Pivot

8120.00

Our preference

Short positions below 8120.00 with targets at 7840.00 & 7640.00 in extension.

Alternative scenario

Above 8120.00 look for further upside with 8330.00 & 8550.00 as targets.

Comment

The index currently faces a challenging resistance area at 8120.00.

Supports and resistances

8550.00 *

8330.00 ***

8120.00 ***

8017.00 Last

7840.00 ***

7640.00 ***

7495.00 **

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