ASX dump. 6000 did not hold!
Updated
I did not expect such strong selling through the 6000 level so soon. I was honestly expecting a bounced at 6000 with long term support (trend line) holding.. I guess THEY had other plans ;)
The selling occurred due to the
DJI breaking support and dipping just under 6%.
Second target in sight, however, the fisher and RVGI are both over extended so I expect some green action to come next week. I will need to revisit at todays close to determine if this may occur or not, the current candle stick is already a sign of reversal and it is approx 1:30pm.
I will also link the DJI chart for reference of support break.
Reminder to check my last charts in related ideas. Previous chart called for 6000 being reached within 5 work days.
The selling occurred due to the
DJI breaking support and dipping just under 6%. Second target in sight, however, the fisher and RVGI are both over extended so I expect some green action to come next week. I will need to revisit at todays close to determine if this may occur or not, the current candle stick is already a sign of reversal and it is approx 1:30pm.
I will also link the DJI chart for reference of support break.
Reminder to check my last charts in related ideas. Previous chart called for 6000 being reached within 5 work days.
Comment
We will have a green week next week.Related publications
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