From my personal observations this morning.
We had zero volume traded on market open even with the ASX indices pointing downwards strongly following the overnight lead from the US. I do believe ST sellers are nearly exhausted.
As the day progressed, our indices pointed significantly northwards with the All Ords closing +71 points or +1.27% with risk appetite back on the table.
Based on the chart, we have slowly formed a strong support level around the 40c to 43c with the average support level at around 42c.