Thursday, May 12, 2022

Finspiration Australia. Chart analysis of Australian and International Stock Markets.

 XJO down heavily today -1.75% and broke below support which has held the past two days.

The Index is very oversold with RSI below 30.  Stochastic has dipped below 20 where it rebounded at the end of January.

We are close to the end of this pull-back - but wait until we see definite signs of bottoming before entering for a short-term bull trade.

LB



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