As some will know I harp on about the 1991 trendlines. So looking at that 1991 trendline on the chart, if we dont break through into the upper zone then I believe we will retest the lower zone bottom in the coming month(s). Note the resistance today at that 4420 area which is SPOT ON the mid point!!!
Seems we could have a line up with the chart and news to come out over the next month that could bring that lower zone bottom retest. Only twice before have we been in this lower zone (08) & (03) and both times we tested the lower zone bottom (thats 3750 currently into Sept/Oct).
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Last
8,580.1 |
Change
-9.100(0.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,589.2 | 8,619.8 | 8,568.2 |
| XJO (ASX) Chart |