The ASX200 is set to open up around +1.3% this morning, basically just as it did on the last two Mondays – memo to self don’t go short on Fridays until further notice! This morning’s strong opening is likely to see buying across the board but some influential heavyweight resources are likely to be up in the region of 5-10%, a test of 7100-7200 now feels inevitable in the coming week (s) plus if we’ve already seen the low for November at 6823, which we suspect, statistics would target a break of 7200 before we even reach December.
- No change, we still believe equities are likely to be trading in the 6400-7200 range over the next 6 months with surprises more likely to be on the upside.
MM remains bullish on the ASX200 into Christmas
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