Exfiles,
4444 - sounds like a magic number.
More or less the triple day high back in May 2012. The intra-day highs were:
4448.5 - 1 May
4449.5 - 2 May
4443.5 - 3 May
So round figures 4444/4445 - a key horizontal support level.
Near term, horizontal support lies at 4457.6. 40-Day TMA currently at 4476.1
So we've got a support zone in there (round figures) 4444/4476.
Yesterday the market closed at 4483.8
At a guess, I'd say we'll close within that support zone today. In which case, we might have to wait until Monday.
If 4444 does break decisively, then, yes, we're probably going a lot lower.
Redbacka
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