ASX weekly technical analysis for 21 to 25 march 2016
ASX 200 index this week closed with gain. This was third gaining week for asx. In these 3 weeks we saw almost 300 points recovery from bottom. Weekly chart trend is down but momentum is strong bullish on account of recovery rally. On upside my final target for this rally is 5300 which can be expected in next week. On downside 5125 remain as major support zone. Above 5300, asxwill change trend and become super bullish. In that scenario expect sharp rally up to 5480 to 5660.