IMUGENE CHART. TA only, page-13148

15M shares traded on the asx yesterday, last 6 trading days all below 20M shares traded each session on the asx. Dow up 1.55%, Nasdaq up 3.77% at this time. Interest rate hike greeted with a positive vibe in the US.

Daily Chart: RSI 48.66%, so close to stepping over 50%, MACD is positive, Stochastics positive, ParSAR positive, all on very low volume. Now we just need the volume to build, and the RSI to get above 50% for some movement. Expecting sideways trading for the moment until the BB pinch pops or smooths out. The BB pinch has not opened up from what I can see, so it is still tightening more, as the volume drops and the price range tightens. Sometimes we see the BB pinch really tighten, like in May and August of 2021, followed by a decent run. More often than not, there is news attached and the market waits for it to drop. So something to keep an eye on over the next few trading sessions.

Interestingly, the TEMA measures for the 20, 40 and 70 have all lined up again, only just, but this has not happened for a fair while. Last time that the 20 lead the 40, leading the 70 was November 2021. It just shows that the averages are settling and some of the volatility has subsided for the moment.