ASX 200 Bullish Analysis

Elliott Wave Analyst - tradinglounge • Nov 24, 2020 at 4:06 AM EST

ASX 200 Bullish Analysis as Australian banks and commodity/resource stocks push higher.

(Video length 00:15:23)

ASX 200 Bullish Analysis as Australian banks and commodity/resource stocks push higher. CommBank [CBA] 0.82 cents dividend on 5 Dec helps the ASX200 higher, however, there is technical resistance at $80.00 for CBA, but we think this will be overcome for CommBank to push higher, we are staying long in this stock. The same for BHP, today's video points out that crude oil, copper, and iron ore are trending higher and this, of course, supports BHP for a move higher, we are currently long on BHP. Therefore, the ASX 200 can trend higher, the next step along the way is developing support on 6600, we are currently long in this market.

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