S&P-ASX 200 may fall to 7495.00 - 7625.00

Pivot

7900.00

Our preference

Short positions below 7900.00 with targets at 7625.00 & 7495.00 in extension.

Alternative scenario

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

Comment

As long as 7900.00 is resistance, look for choppy price action with a bearish bias.

Supports and resistances

8150.00 *

8000.00 ***

7900.00 ***

7783.00 Last

7625.00 ***

7495.00 ***

7320.00 **

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