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Australia 200 (AU200AU), H4 Potential For Bullish Continuation

40530 australia 200 au200au h4 potential for bullish continuation

Type: Bullish RiseKey Levels:Resistance: 7366Pivot: 7154.3Support: 6996.2Preferred Case:On the H4, with price moving above the ichimoku cloud and within the ascending trendline, we have a bullish bias that price will rise from the pivot at 7154.3 in line with the 61.8% fibonacci projection to the 1st resistance at 7366 in line with the overlap resistance level and -27.2% fibonacci expansion .Alternative Scenario:Alternatively, price may drop from the pivot to the support at 6996.2 in line with the swing low.Fundamentals:No major news

Source: Tickmill

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