The market appears likely to unfold lower to a test of support.
Sup: 5411*,5387,5368,5356
Res: 5459*,5472,5489,5503,5510*,5520*
Prices were unable to hold the early break of resistance at 5459 yesterday to maintain a pattern that is on balance negative in a short term basis, and suggestive of unfolding weakness to a test of the important (in terms of the medium term pattern) 5285 support.
A break of support at 5411 would provide a bearish indication, whereas renewed work above the 5459 resistance and a break of yesterday’s 5472 high would argue against this interpretation and would threaten a far more positive outcome.
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Last
8,579.7 |
Change
-23.300(0.27%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,603.0 | 8,617.0 | 8,579.7 |
| XJO (ASX) Chart |