ASX Weekly Chart Analysis
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Almost all local markets rose this week, but with reduced spread, and on only modest volume.
Many markets were up near potential resistance levels, none however showed typical breakout behaviour.
This suggests that some increased supply was being drawn out, and that demand may have also eased.
This may be an indication price will move into consolidation/absorption mode for a period, or that perhaps it will pull back to some extent and test the market for supply.
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