XJO 0.28% 7,739.9 s&p/asx 200

shirt to hurt the furn

  1. 1,290 Posts.
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    Time for caution once again! Multiple indexes have pushed through multi-month support lines and have began to work off their oversold positions! Are we heading for new lows - check out below and make up your own mind!? Multi-index support breaks appear a little more co-ordinated and severe than last May's effort!


    UKFTSE100: Retesting old support - now resistance??





    HANG SENG: Still looking oversold, but could easily consolidate or push lower! May just consolidate if the UK pulls back?





    AUS: Looks the stronger of the bunch! Materials look good but financials may need a pull back to some degree putting pressure on our overall market!?








    It is not hard to see that short term pressures exist across global markets - including our own! Lets hope it is more consolidationary rather than a drop before we can continue our upward movement! Multi-index support failure has to cast some degree of concern though - regardless!!

    Happy trading!


 
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