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Australia 200 – Resistance at 5500 Resumes ‘Key Level’ Role
In the last week or so the Australian 200 index has done well and surged higher to move back above the key 5400 level to a two month high just above the resistance level at 5500. In the last day or so the resistance at 5500 has stood tall and fended off all advances. This move higher above the support at 5400 is important as it desperately tries to hang on to this important trading range for the index above 5400. In the week prior, the Australia 200 Index eased back again under the 5400 level after making numerous attempts to clear it over the last month, which saw it drop to a three week low below 5250 before its ... (full story)