S&P-ASX 200 may fall to 7320.00 - 7495.00

Pivot

8120.00

Our preference

Short positions below 8120.00 with targets at 7495.00 & 7320.00 in extension.

Alternative scenario

Above 8120.00 look for further upside with 8330.00 & 8550.00 as targets.

Comment

Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited.

Supports and resistances

8550.00 *

8330.00 ***

8120.00 ***

7827.00 Last

7495.00 ***

7320.00 ***

7125.00 **

Number of asterisks represents the strength of support and resistance levels.