ASX Bounced Off Support, Potential For Further Rise!

19 Ara 2018ASX is approaching our first support level at 5516 (61.8% fibonacci extension, 50% fibonacci retracement, Horizontal swing low support) where a strong bounce might occur above this level pushing price up to our major resistance at 5950 (100% Fibonacci extension, 50% fibonacci retracement, Horizontal overlap resistance ).

Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.