Selling opportunity ahead in the Index. The Index has formed a Double Top, a breakout of Double top will be an opportunity to enter short in the pair.

Double Top is a reversal pattern. At higher level the index has formed a harami pattern and the pair has corrected forming a resistance at higher level.

For going short the index has to close below the neckline. Once the index is able to close below the neckline selling pressure can be seen. Index is trading below the Fast as well as Slow EMA indicating a negative direction.

Advice : Sell if the Index closes below the neckline

AUS200

May 25 2022