ASX200 Index at the start of the week 

It has been a trend less market lately with no big moves even in the intra-day action. The move down from the high on the 11th Oct at 5498 has been arrested on Tuesday.

The low at 5386 is important as the index made two day up (counter trend move) and Friday made a lower high, so it looks like if 5386 is taken we could have a fast move down towards 5300 (support).


The upside is limited by the down trendline (see above chart – upper green line) and the 20 MA and 72 MA indicators turning down. Therefore if 5386 is taken, a move down to 5300 is very probable. At that level there is support from form reading and the up trendline (see chart – lower green line).