News & Analysis

Eightcap CFD technical insights; ASX200 is flying but key levels are threatening

May 2, 2018 | CFD News

Local traders the AUS200 has had a hell of a two days adding close to 99 points. Outpacing the US30 and other major indices. The index has added 570 points in the current rally and is closing in on the first level last seen before the major correction.
Without coming off as a downer we’re approaching a level that has shown strong seller interest. If buyers can break this area we could see a test of the 2017 highs! Let’s see how buyers react moving into their first decent testing ground. The current two day rally does look to becoming extended.

Good Trading from Eightcap.

 

 

 

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