Finspiration Australia. Technical analysis of the Australian and International stock markets.

19/4/22.  ASX up strongly today.

 XJO was up +0.56% today, and broke above the recent consolidation zone.

That suggests that the XJO is headed up to horizontal resistance at 7628.  XJO finished today at 7565.  So resistance is not far away.

The ASX continues to be dominated by the inflation scenario.  Materials (XMJ) + 1%.  Energy +1.3%.

Financials (XXJ) benefit from inflation by an improvement in margins.  XXJ up today +0.9%.

Look to a movement up to horizontal resistance on the XJO and then a probable pull-back as the index becomes over-bought.