Thursday, 23 August 2012

3pm update - near term trend remains down

Hmm, we're 4pts off the earlier 1400 low, but the hourly cycle trend is certainly still downward.

A close under the 1400 would be a bonus right now.



A close under the hourly 10MA of 1407 would certainly be preferable.

It does look likely 1390 will be hit sometime tomorrow, it sure will get tricky if we move into the low 1380s though early next week.

More after the close