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!
shirt to hurt the furn
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| XJO (ASX) Chart |