Below is a weekly chart of the S&P/ASX 200.
"This correction from the +5800 area may not be over yet as there could be another 100 pt PB to near the 5575 - 5610 S/R area"
The S&P/ASX 200 continues its PB since its recent BO above 5800. Weekend sentiments had me thinking since we've had a good rally since the election - that this index may correct to near 5600 before another assault is made on 5800. Weekly momentum still remains bullish increasing.
The MACD formed a bullish UC several wks ago since w/expanding +ve histogram. Bullish weekly momentum may start to reduce if PA this wk continues to fall. Stochastics formed bullish HL's since Q4 and recently re-entered the bullish continuation region. Bullish increasing although at a slower rate compared to late-Q4.
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 (20min delay)
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Last
8,757.2 |
Change
118.200(1.37%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,639.0 | 8,776.4 | 8,639.0 |
| XJO (ASX) Chart |