Rise and dip today maybe, watching for resistance at 7420 to start with.
Asia and the ASX had a decent day putting in some solid rises across the board, and we closed Friday strongly so the indications are certainly there. I am watching 7420 and 7445 as the key resistance levels for the moment, and it will be interesting to see if the bulls manage to push above 7450. There are some signs that we could well range between 7350 and 7450 for the short term (next couple of days).
Of course, we are still in earning season, and the banks had decent results last week for Q2, so that will have an effect on price moves this week.
Asia and the ASX had a decent day putting in some solid rises across the board, and we closed Friday strongly so the indications are certainly there. I am watching 7420 and 7445 as the key resistance levels for the moment, and it will be interesting to see if the bulls manage to push above 7450. There are some signs that we could well range between 7350 and 7450 for the short term (next couple of days).
Of course, we are still in earning season, and the banks had decent results last week for Q2, so that will have an effect on price moves this week.
Comment:
Shorted the 7420 earlier, taken half at 7400