All Share Index (ASX : 2nd August 2014)
I’ve been watching the ASX (all-share index) carefully this week, wondering if the Middle-East issues would affect it. The Sharescope Graph (below), indicates that caution is required by DIY-Investors…
[Click Graph to View Full Size, ‘ESC’ or ‘Close Tab’ to Return]
As you can see, I’ve marked two upsloping support lines for the ASX. The dotted one representing closing levels and the solid line being intra-day levels. The level closed at 3559.02, sitting on the intra-day support line, but below the closing level (dotted) support line. This marks the possible end of the uptrend that has been running from the low point on 10th October 2013 (about 10 months ago).
Monday could be an interesting day and either way, we’ll be discussing the ASX in more detail on the Inner Circle Webinar on Tuesday evening (8pm BST).
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