XJO ASX200 update -Pay attention to the 200 MA low monthly

Good morning,

I want to show you an important trading indicator today and it is the 200 moving average low on the monthly. (currently at 4885)
This indicator acted as major support during the GFC (Nov 2008, Mar 2009) and we tested this level last Friday and bounced strongly.....

I will wait and watch the monthly close to see if this is an excellent buying opportunity from a risk/reward strategy.