ASX to find buyers at previous support?ASX200 - 22h expiry - We look to Buy at 7190 (stop at 7140)
3RR
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible.
This is positive for sentiment and the uptrend has potential to return.
The hourly chart technicals suggests further downside before the uptrend returns.
We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.
Our profit targets will be 7340 and 7590
Resistance: 7340 / 7590 / 7800
Support: 7140 / 6965 / 6560
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