Stay tuned for an EOD update since amongst all this BEARISH developments, in the very short term, a counter cyclical rally is in effect as of this writing . It is quite possible that today’s price action with XAO may be marking a PRELIMINARY SUPPORT OR A SELLING CLIMAX. Time now is 10:24 in Melbourne. Buyers are on bargains may be another way of putting it, as well as some short covering creating a floor/support for XAO.
5963 was the April high x 0.80 = 4770 puts us in a BEAR MARKET . Low so far with XAO is 4936 therefore overnight developments is not being reflected to XAO so far.
We will drill it down further EOD.
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