Australia S&P ASX 50 Index (.AFLI)

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Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s, select commodities, cryptocurrencies and global equity indices. Below chart, Australia S&P ASX 50 Index is from the review section of the weekly report. It is featuring a possible 2 year-long H&S continuation that can breakout to all-time highs.

AUSTRALIA S&P ASX 50 INDEX (.AFLI)

Australia S&P ASX 50 Index is re-testing the resistance at 7,380 levels. Strong price action puts the H&S continuation possibility on the cards. The horizontal boundary at 7,380 levels has been tested several times and a breakout can push the index to new all-time highs. H&S continuation price target stands at 8,300 levels.

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