Indices: Australian ASX 200
The ASX200 fell over 1% yesterday as increasing Covid cases across the globe started to weigh on an already fragile market – it already feels like ages ago that everybody was trying to buy into the re-opening trade! Over 80% of stocks on the main board fell on Monday but although there was broad based weakness it was on relatively low volume suggesting buyers simply took a step backwards as opposed to the sellers…
The ASX200 looks set to open around the psychological 6700 area this morning as it slowly approaches its high of the last 2-weeks, if we are correct this will be breached this month and the index will rally towards the 6850-6900 area:
Really bullish, there's more to go in the reflation rally
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