ASX200 defies Septembers reputation as a challenging month
The ASX200 closed out September in style, with the index at record highs after a monthly gain of 2.20%. While the gains at the index level were more a steady march higher, there were fireworks at a sector level as easing measures announced in China last week sparked a tectonic shift from out of the banks and into the big miners.
Provided the ASX200 confirms yesterday's break above 8250 in the sessions ahead, it opens the way for a rally towards 8400. Aware that if the ASX200 returns to the trend channel and then loses support at 8120/00ish, it warns that a deeper pullback towards 7900 is underway.
ASX futures closed 32 points (-0.39%) lower this morning at 8274, indicating that the ASX200 should open lower this morning at 8238.
Provided the ASX200 confirms yesterday's break above 8250 in the sessions ahead, it opens the way for a rally towards 8400. Aware that if the ASX200 returns to the trend channel and then loses support at 8120/00ish, it warns that a deeper pullback towards 7900 is underway.
ASX futures closed 32 points (-0.39%) lower this morning at 8274, indicating that the ASX200 should open lower this morning at 8238.
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