SPI200 Commentary
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SPI had a big rally Tuesday as trade war fears abated. The rally was done during the day and SPI consolidated gains around the highs during the night. XJO is looking comfortable above 5800 again so we should see more consolidation around 5850 today. Yesterday saw banks and resources rally together which is why the move was so strong. If we see that again today then best to go with the momentum. Risk on was seen in the FX and commodities markets also, so chances are this rally continues. SPI wont make it easy though, so look for some sharp dips to buy rather than chasing tops, that dip to 5800 in the overnight session is a prime example. For todays trading I am looking to buy dips around 5810 and sell rallies around 5860
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Last
8,603.0 |
Change
7.200(0.08%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,595.8 | 8,616.8 | 8,589.5 |
| XJO (ASX) Chart |