CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.09% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

76.09% of retail investor accounts lose money when trading CFDs with this provider.

Will ASX200’s Price Hold Above Yesterday’s Open? | Indices

Published: 24.11.2023
by Joseph Jeffriess

Today, we look at the ASX200 on the daily chart and whether it will confirm a continuation price pattern that is developing.

Pattern – Continuation HL
Support – 7035
Resistance – 7100

Buyers appear resilient, holding support and forming a bullish bar in today’s session. However, there is a concern regarding the observed fading in the price. If the price fails to maintain levels above yesterday’s open, that adds to the worry.

Additionally, the Moving Average (MA) is pointing upward, indicating positive momentum with a Lower High (LH) and support holding after the breakout of a new leg higher, all signalling buyer support.

We’ll be watching closely for a confirmation bar on Monday, provided we get a trigger bar today.

Good trading.

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