SPI200 Breakout and Retest | Vantage FX

SPI200 Breakout and Retest

April 4, 2017

The Australian SPI200 index has finally broken through the resistance level that we watched go from a double top to a triple top over the last month or so.

SPI200 Daily:
160404_spi200_daily
Click on chart to see a larger view.

As you can see clearly on the daily chart above, price has broken through the level and has pulled back to retest the broken support as resistance.

TO THE PIP!

This is the sort of thing that keeps me coming back to technical analysis time and time again.

Just keep an eye on the economic calendar with today’s RBA rate decision likely to be a little more lively than the most recent decisions thanks to the resurgence of Sydney/Melbourne house prices chatter.

Take advantage of trading market opportunity in Indices with a Vantage FX live account.

Dane Williams – @VantageFX

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