S&P-ASX 200 may rise to 8330.00 - 8550.00

Pivot

7840.00

Our preference

Long positions above 7840.00 with targets at 8330.00 & 8550.00 in extension.

Alternative scenario

Below 7840.00 look for further downside with 7640.00 & 7495.00 as targets.

Comment

The RSI is bullish and calls for further advance.

Supports and resistances

8750.00 **

8550.00 ***

8330.00 ***

8136.50 Last

7840.00 ***

7640.00 ***

7495.00 **

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