ASX weekly technical forecast for 13 to 17 june 2016

ASX weekly technical forecast for 13 to 17 june 2016 ASX this week closed with loss at 5391. This was second weekly loss for this index. Look like topped out around 5490 level.   Asx future weekly chart price trend and momentum is turning bearish. Below 5400, asx will be bearish and sell. On downside 5360 and 5305 are support as well as target zones for next week. On upside 5400 and 5490 are resistances.   Closing above 5400 with strong volume means reversal of trend as well as fresh buy signal for target 5540 and 5630.   Future traders with closing basis stop loss above 5400 keep short view in asx future for targets 5360 and 5305.

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Pramod Baviskar

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