Tuesday, June 19, 2018
ASI - Touched the 161.8% fib extension @ 6267 points
It was only yesterday I discussed that the ASI could test 6267 points - 161.8% Fib Extension. It closed at 6265 points a drop of 52 points intra-day. Whilst there are no signs of a reversal based on indicators, we saw some support coming to the market giving a ray of hope. Tomorrow and day after will be decisive as we could see more clarity in the change of direction. ASI is once again heavily oversold with the RSI at 16.8 points. It was 13.60 in August 2017, from which point the index reversed to recoup 300+ points in a matter of 2 months. Therefore the importance of the next 2 days become apparent further. Can we hold 6225? Can we hold 13.8 on RSI?
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