Australia May Resume Trend

Australia main index looks ready for further gains.

Technically,

• A double bottom formation at the long term rising trend which was completed on breakout above the neckline at 5610.
  
• Bullish divergence on Momentum
  
• Breakout back above the two mean averages (50 and 200)
  
• Major bullish pin bar on the weekly chart
  

Generally this is a guideline for the setup, you should choose whats suits you for entry and exit . For me, A pullback towards the neckline could be an opportunity to long. With a stop loss below 5480.00

My best regards
Technician
Subscribe to my trading portal thefxchannel.com