ASX up modestly today. XJO +0.26%.
Chart for STW (ETF for XJO):
Today was a narrow range day, the narrowest for the past four days (NR4), so expect range expansion tomorrow.
The chart remains in consolidation mode with low volumes being recorded. That suggests that the next move will be to the upside. We shall see.
XJO remains with plenty of overhead resistance.
IT (XIJ) was the best performer again today, XIJ +1.86%. Property (XPJ) also continues to do well, XPJ +1.18%.
Only two sectors were negative today - both the Resources Sectors, XMJ -1.05%, Energy -0.15%.
OZR is an ETF for the Resources. It was down today on heavy volume OZR -1.79%.
You can see by the width of today's candle just how heavy the volume was today. That is also reflected in the bottom pane (volume) which has risen sharply higher, and Force Index which has fallen sharply reflecting both high volume and big fall in price.
That brought OZR almost down to horizontal support, so we could see some upside movement in the near future.
European stocks are mostly flat in early trading, Euro STOXX600 down -0.05%. Dow Futures -0.1%. Oil is also flat, Pil -0.01%. Gold +0.02%. Not much direction in any of that.
Good luck
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