Worth visiting Vanguard Australia Website to learn about this ETF. All the relevant information in regards to VSO.ASX may be found @ Vanguard website.
XSO ( Small Ordinaries) Index of XAO has been a better performer than the broader market since September low. But our focus here is the VSO, Vanguard Small Ordinaries ETF. It had managed to reclaim 62 percent of it’s lost territory of the prior move down, form April high to August low and stalled at that level,correcting at the moment.
Red Fibonacci retracement lines are taken form the August low to the most recent October high. Blue Fibonacci lines from April High to August low for clarity this is.
I am focusing on the Red retracement lines at present to see where this most recent correction may end. I have marked the Fibonacci Golden Mean Zone with Yellow where I do expect support, if tested. But the zone between 50 and 62 % levels may be taken as a important short term support. That is zone of $41.50-$42.20 .
Lets wait and see where this pullback/correction may halt and reverse over the coming days/weeks.
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