ASX rally to stall at market price?

27. Juni

ASX200 - 24h expiry

Indecisive price action has resulted in sideways congestion on the daily chart.
RSI (relative strength indicator) is flat and reading close to 50 (mid-point) highlighting the fact that we are non- trending.
We expect a reversal in this move.
Risk/Reward would be poor to call a sell from current levels.
A move through 7770 will confirm the bearish momentum.
The measured move target is 7725.

We look to Sell at 7800 (stop at 7832)
Our profit targets will be 7720 and 7700

Resistance: 7775 / 7800 / 7825
Support: 7750 / 7735 / 7725

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