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Weekly Market Outlook: GBP in Focus with UK Elections & Oil Breaking Out
ASX-200: XJO:The ASX-200 closed the week with a bearish weekly candle as price action continues to struggle under the previous all-time intra-day High level of 6,875.50 and the pre-GFC High of 6,851.50. The index closed just above the 6,700 whole number level so that will be in focus to start the week. As with the S&P500, there has been a recent break of a multi-month trend line but traders need to watch for any Bull Flag activity. Bullish targets: Any hold above 6,700 will bring the previous High, circa 6,851.50, and, then, 7,000 into focus. Bearish targets: Any break below 6,700 would bring 6,000 into focus as this ... (full story)