Since the break out at 5830, we are looking for the 5th wave (last one), and trying to work out the length of it. This is for ASX 200 index, but if we look at AllOrds it hasn’t break out. It needs to take out 5963 (see the second chart).

02-04-2017_D 02-04-2017_W

So, the break out point for AllOrds should be the first resistance for ASX 200. This point is also at Fib extension value of 5932. But, until this level is reached, the exhaustive move of last week could take the index down to the break out point at 5830.