| Weekly Trend: | Up |
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| Daily Trend: | Up |
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| Daily Momentum: | ___ | Up |
The all important 4600 was attampted yet again today but held strong. The market reversed hard off 4598 and closed in the red so it seems to me that a number of people have their eye on that level. We’ll take a more in-depth look at the XAO weekly picture tonight in the Technical Research area. Resource stocks gave back some ground today but it’s to be expected after the recent rise. Tonight will be an important session in the US because it will offer up a lead for us next week and whether or not we drive up and through that resistance or fall back again into the range. Trading is frustrating, but it can only be expected with this range being the conerstone pattern of the moment. The XAO has rotated in a 447-point range since late May – difficult to get excited on extracting profits until that changes.
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