SPI200 Commentary
Follow or Fade!
SPI had another weak day Wednesday as it sold off from the open, consolidated and closed at the lows. Sycom had a small recovery but closed at the lows. There was a big rally in the USD overnight and this caused commodities to fall. So expect weakness in our miners and energy stocks today. Should the banks continue their sell off and join the resources on the path lower then expect yesterdays support level on the SPI to break and more weakness to follow. On the cash chart the next level of support is 6200 and that has been able to hold but if it should break then expect the 6000 level to be the next target on the downside. For todays trading I am looking to buy dips around 6140 and sell rallies around 6180
ASX Morning call 12th July, page-2
Add XJO (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
7,829.7 |
Change
66.500(0.86%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,763.2 | 7,832.3 | 7,763.2 |
| XJO (ASX) Chart |