XJO 0.99% 7,896.9 s&p/asx 200

Hmmm ... with many indicators showing price very OVERSOLD at...

  1. 5,822 Posts.
    Hmmm ... with many indicators showing price very OVERSOLD at these levels not surprising SHORTERS sold heavily into major SUPPORT and turn-point at 5635 reversing early gains.

    Participants appear happy with Budget seemingly supportive of jobs and business generally and price today holding onto last week gains.

    Noteworthy, overall trend still somewhat NEGATIVE as chart shows and although chart indicator has confirmed the LONG entry, price is little changed from major RESISTANCE first signalled in August 2014.

    Price needs to consolidate to the upside and retest major SUPPORT at 5760 to confirm uptrend here.

    Warning:  Greece default on early June payment to Bondholders imminent .. finger on the trigger here.

    xjo25may15.png



    Cheers ... tight stops.

    .
 
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