S&P/ASX 200 Index Longs Suggested – As Bremain Leads And Housing Market Positive

S&P/ASX 200 Index jumped strongly overnight on rising hopes that Britain would vote to stay in the European Union in Thursday’s referendum. As a result, the financial sector witnessed a sharp up-tick following the receding threat of Brexit. According to data from the Australian Bureau of Statistics on Monday (20/6), the house price index for the first quarter eased 0.2%.  This helps relieve investor concerns over the possibility of a housing market bubble. On the hourly chart, the price is moving sideways after hitting the resistance at 5296.42. According to the stochastic chart, the %K line (blue line) has reached the overbought territory far ahead the %D line (red line). The index is anticipated to climb further. The next resistance to test is 5296.42.

Trade suggestion

Buy stop at 5290.90, Stop loss at 5286.06, Take profit at 5296.42

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S&P/ASX 200 Index Longs Suggested – As Bremain Leads And Housing Market Positive

S&P/ASX 200 Index jumped strongly overnight on rising hopes that Britain would vote to stay in the European Union in Thursday’s referendum. As a result, the financial sector witnessed a sharp up-tick following the receding threat of Brexit. According to data from the Australian Bureau of Statistics on Monday (20/6), the house price index for the first quarter eased 0.2%.  This helps relieve investor concerns over the possibility of a housing market bubble. On the hourly chart, the price is moving sideways after hitting the resistance at 5296.42. According to the stochastic chart, the %K line (blue line) has reached the overbought territory far ahead the %D line (red line). The index is anticipated to climb further. The next resistance to test is 5296.42.

Trade suggestion

Buy stop at 5290.90, Stop loss at 5286.06, Take profit at 5296.42

Leave a Reply

Your email address will not be published. Required fields are marked *