EM1 Information Summary and Prospects, page-52

heres my quick intra-day chart to finish the day, its not a very long time-frame so only here to provide some context during the selling today, its nice to step back and take perspective, here is monday and tuesday (missing the last 30 mins of trading or so today probably)


Please note that the resistance and support levels are basically guesses at this stage and really just an indication of where the SP might move through early tommorow, but this all depends on the difference between the close price and the indicative pre-open tommorow and volumes on both sides of course!
We saw a rising trend yesterday, and today we are seeing a downtrend. If the support levels hold then we have a bearish looking descending triangle IMO for possible testing of resistance and breakout on announcement or wider buy appetite. If the support levels dont hold we will see a channel that is the mirror of mondays, that will find a lower support before gaining further buy momentum.

I am of the opinion that day traders will be enjoying the downward pressure on the SP ahead of closing and may be buying ahead of closing to make a good spread for tommorows open, but its hard to say, we have to look at the buy volume after closing auction.
In summary I dont think this looks bad at all! Especially after the rally, just a small pullback after the first re-rate IMO.

Here is a better look at today:


same comments as before, but I would add that the VWAP for todays session was around 8.1c which I think is a good result, a stable VWAP at this level following the recent rally is a good sign of near-term stability IMO. You can see the VWAP throughout the day as the orange line, which is relatively flat after the selling at open. So although it was a sellers day, volume-wise they sold at a flat rate throughout the day.

I think that tommorow and thursday will allow the SP further time to consolidate at around these levels, and it will be easier to do a proper chart for the week, establishing an idea of how the market feels ahead of the next announcements.