This rally attempt should fail (this week) in my opinion.
Not the time to buy in my opinion. And nearing a good sell opportunity if we are not here already.
It's hard to put a level on the upside.
A couple of weeks ago, I was thinking 4600 - 4620 would be hard to break convincingly. Although we are at 4620 now and it is finding resistance, we have to assume there is some more juice left in it yet.
Can it get to 4700? Yes it could but I don't think it will.
This rally should fizzle away into hot air and I am expecting a larger move to the downside.
Targeting 4240 by December (if not lower).
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Last
8,773.5 |
Change
28.300(0.32%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,745.2 | 8,821.0 | 8,745.2 |
| XJO (ASX) Chart |