The XJO closed modestly lower on Friday, after being much lower earlier in the session.
While demand may be lacking, support appears to remain intact whenever the Index moves lower.
Of the last six bars, five have closed within the Pink Zone on the chart, a range of 23 points.
This tight clustering of closes often represents absorption of supply.
cheers
weekend charting and chat - 09 may 2014
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Last
7,889.6 |
Change
-74.100(0.93%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,963.7 | 7,963.7 | 7,882.3 |
| XJO (ASX) Chart |