Fair Values:
SPI200 over ASX200 is -7.4 [Pre-Franking]
Dec over Sep SPI is 35.0
The market holds Thursday’s upside break.
Sup: 5004,4997,4988,4977,4955
Res: 5033,5045*,5053,5086,5102
Prices held the upside break of the recent trading range today.
Despite the break I favour a degree of caution until further confirmation is seen.
A daily close above resistance at 5045 where prices retrace 61.8% of the retreat from the 5153 July high would provide degree of validation to the break and would suggest a retest of this high before renewed weakness.
Alternatively, rejection through support at the 4988-77 region would signal that the break-up was a false one and would re-instate the downside risk.
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Last
8,658.7 |
Change
-98.500(1.12%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,757.1 | 8,757.1 | 8,658.0 |
| XJO (ASX) Chart |