Energy drove the Australian market higher today. XJO finished up +0.26%.
Some extraordinary moves today. AMP was down -6.4% but finished up +4.6%. Boral up +8.5%. Downer, on the other hand, was down -6.4% and AGL down -3.1%.
That's reporting season for you. Anything can happen.
STW (a tracking ETF for the XJO) remains within the range of the first three days of August. It is in a short-term up trend. Hull MA13 has turned up and STW has broken above the 20-Day MA.
The long tails on today's candle indicates intra-day buying pressure which is a bonus.
A horizontal resistance level is near-by - that might cause some trouble.
Until XJO clears the block formed by the first three days of this month, we'll wait on the longer term trend to reveal itself.
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