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Hi SinnerIt is a thread about the XAO (more broadly - representative of Australian stocks) in the long term section."They" is just a word I used to describe those buying in the market - I described the buying as significant because it overcome what ever selling was there on a day where all the news flow was gloomy and the XAO had broken a support level. The reference to oversold was to indicate that some buying pressure may come from technical signals to fade but I suspect that most of the volume fading the break was on the perception of value around these levels. But like I said that interpretation might just be my bias. Regardless of its cause, I read the false break as one small piece of bullishness which is out of sync with the rest of the generally prevailing mood.
Hi Sinner
It is a thread about the XAO (more broadly - representative of Australian stocks) in the long term section.
"They" is just a word I used to describe those buying in the market - I described the buying as significant because it overcome what ever selling was there on a day where all the news flow was gloomy and the XAO had broken a support level. The reference to oversold was to indicate that some buying pressure may come from technical signals to fade but I suspect that most of the volume fading the break was on the perception of value around these levels. But like I said that interpretation might just be my bias. Regardless of its cause, I read the false break as one small piece of bullishness which is out of sync with the rest of the generally prevailing mood.
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