Perfectly normal to get a back test after a nice long green pole after a ABC correction, in fact its healthy in a way as now we have a bull flag pattern , as the name suggests, its BULLISH , there could be some more weakness on Monday to complete the flag, but there after i am expecting SP to rise rather nicely with imminent news around the corner......
I will be closely watching the RSI 14 indicator to observe if that 48 resistance line breaks to the upside plus volume, when that happens, ASN is off to the races.
No major dramas with the MACRO over the weekend, hopefully that continues and ASN can initially break the 8.6 resistance line then make in roads to the 9.5 / 10.5 resistance wall next week
A bit of positive news would be very welcome too....
As always, IMO, IMO, IMO
Perfectly normal to get a back test after a nice long green pole...
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