Sup: 5085,5059,5043,5033,5022
Res: 5117,5138,5159-63*,5195
As discussed in recent updates, resistance at the 5159-63 region (where we find the 61.8% retracement point of the decline from the May high and a wave relationship within the current recovery) needs to be exceeded to suggest at least one more new high.
Whilst this does not occur the technical picture remains in the balance and the risk of renewed rejection remains high.
A retreat through support at 5022 would create bearish overlap and would strongly suggest that the downtrend that began at the May high is not yet complete, with the risk then of further significant decline.
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Last
7,674.7 |
Change
45.700(0.60%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,629.0 | 7,684.1 | 7,629.0 |
| XJO (ASX) Chart |