The ASX200 may be on the ropes if it can not push through res

The ASX200 is up at resistance that bulls will be desperate to break through and fend off further selling pressure. The key level for us is 6805 and then up to 6860. If the 685 level holds today then we may see a squeeze of recent buyers and push lower. The question for many now is whether the recent break of the longer term uptrend from March will lead to a deeper correction lower or not.

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