Upside seems limited but 8.60 is current support.
Risk of iron ore prices and Vale coming on line remain.
But Ziggy has offered big dividend surprises recently and with low interest rates, dividends are king.
Continuing to take shorts. Looking for 7.60.
Market bounced from a smaller support than what I was aiming for.
The market has decoupled from a GDP dropping trend to a market driven by political situations.
I am aiming for a double top at near new highs or a reversal in the coming days.
Could be an interesting day on the ASX200.
Futures are holding around the 5863 mark. But with Gold and Oil down the miners could start to pull on the market, added to that the banks may be soft after CBA yesterday. On the flip side the AUD was down overnight reducing the AUD losses in Gold and Oil.
I am looking at 5827-5823 as a key area. Its the S1 pivot...