ASX.AX dominated by bears dragging the market lower throughout the day
ASX Limited (ASX.AX) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
ASX.AX finished the week 1.37% higher at 67.15 after losing A$0.56 (-0.83%) today on low volume. The bears were in full control today, moving the market lower throughout the whole session. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (ASX.AX as at Aug 10, 2018):
Friday's trading range was A$1.05 (1.54%), that's far above last trading month's daily average range of A$0.79. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.
Prices are trading close to a key support level at 67.06.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.