ASX approaching support, potential bounce

ASX is approaching our first support level at 5550 (61.8% fibonacci extension, 50% fibonacci retracement, Horizontal swing low support) where a strong bounce might occur above this level pushing price up to our major resistance at 5960 (61.8% Fibonacci extension, 50% Fibonacci retracement, Horizontal overlap resistance).
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.