Hiya Treggs and H and all,
Regarding your conjecture Treggs, I am inclined to agree that we are still quite possibly in a short term upside scenario...
On smaller time frames, I have observed that price will generally retests the 21ma after piercing it and rising above.
The attached chart shows price for the last week or so on a daily chart (note that this is IGMarkets wierd timestamp so days do not correspond to our days)... The thick red line is the 21MA, the thin black line is my conjecture of where price may get to before resuming a move upwards...And it has possibly already got there.
;)
and it's wednesday, page-5
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Last
7,971.6 |
Change
-64.900(0.81%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,036.5 | 8,036.5 | 7,923.6 |
| XJO (ASX) Chart |