I can see 2 areas of potential support on the 10 year XJO chart.
There is a long term upwards trend line that has traditionally provided support - 2009, 2012, 2016 and most likely 2018. If this fails there is a horizontal support that his historically provided short term support although at a period of multiple years (2013, 2016, 2018?) it looks like too long a time frame to provide a resting level. I am confident that the long term rising trend line will provide support in this instance and that level looks to be around 5500 in the immediate term. This line hasn't ever been breached so if it does the result is anyone's guess.
Happy to be proved wrong, just my observations.
I can see 2 areas of potential support on the 10 year XJO chart....
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Last
7,665.6 |
Change
-101.100(1.30%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,766.7 | 7,766.7 | 7,660.9 |
| XJO (ASX) Chart |