Market indecisive on Monday - couldn't decide whether to follow through from last Friday stellar run or do the opposite of what AUD does which goes up close to 75c at this moment.
There has been heated debate among traders here about the recent unusual strong run by ASX. From the technical chart perspective - it is definitely bullish which broke out the bullflag on Friday.
However during this strong run, world markets were tumbling down and the petro-dollar was rising. Many "experts" argued the international money was looking for a safe haven to park the money in case of the full blown trade war. And ASX being perceived as "lesser impacted" with weaken dollar and stable economy became one of the choices. As we could see on Monday when China and Asia recovered, ASX barely moved. Could it be the reverse now that international money is going back to where it came from ? Time will tell.
Tuesday 10-July-2018 - Football's coming home
Add XJO (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
7,829.7 |
Change
66.500(0.86%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,763.2 | 7,832.3 | 7,763.2 |
| XJO (ASX) Chart |