Tuesday, March 17, 2009
XAO - All Ordinaries
The All Ordinaries again closed under 3300, the market has clearly met resistance at the January low. Stochastics, RSI(2) and CCI(14) all showing oversold. A quick scan of the ASX 20 stocks will confirm that most stock individually are displaying the same oversold signs. The medium term trend line was also respected. The market may be headed to retest lows if it cannot move through this level of resistance. Mondays candle also formed a Narrow Range 7 bar (NR7).
|Symbol||Index||Short Term (10MA)||Medium Term (50MA)||Long Term (200EMA)|
|XMM||Metals & Mining||Up||Up||Down|