Yesterday morning saw a sell off from 5579 to 5494.5, at which point we were looking towards bold support at 5471 and wondering if/when it would see a test. It didn’t happen. 5494.5 was the low of the day and we rallied from here to print 5579 once more in afternoon trade, aided by a strong performance from the Mining Sector.

5528.5 was good support in after hours trade and we are due a slightly stronger open this morning.

We are still in an uptrend, and on this basis dips should be classed as buying opportunities. This starts to break down if we sell off through 5471, but for now this isn’t happening, and we should continue to back the bulls despite this bout of nerves.

A move through 5616.5 would calm their fears I’m sure!