A big day down today on the XAO -1.6%. We're now back to the critical support/resistance level around 4500.
Volume today was light - well under the 50-Day Average. That doesn't help the bears' case.
RSI was just under the 50 Level, but W%R clung to the upside of its centre line.
The Daily MACD is still above the Zero line - that's a positive.
So - at the moment, we've had a pullback. Natural and normal after a good rise.
Is that it? Maybe, maybe not - the next couple of days will tell. Two days below 4500 would kill this market. A bounce here - and look for further rises.
Cheers
Redb
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Last
8,630.3 |
Change
59.900(0.70%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,570.4 | 8,632.8 | 8,570.4 |
| XJO (ASX) Chart |