XJO 1.47% 7,275.6 s&p/asx 200

spi update

  1. 5,186 Posts.
    Prices remain in uptrend although the momentum has slowed.

    Sup: 5368,5344,5304,5280,5267*

    Res: 5409,5425,5433*,5455

    Whilst the market has continued to trend higher the momentum has slowed, warning of a correction that takes prices back to the 5267-80 region and potentially much further (if this area gives way), depending on how the advance from the September low fits into the longer term structure.

    A break of support at 5344 would suggest that a retreat towards support is underway.

    Should prices continue to unfold higher in the near term, 5433 stands as important resistance.

 
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