Satrix Resi
Graeme takes look at the stage analysis of Satrix RESI
STXRES has broken both the ST trend-line and the major 6689 ZAC floor (support) level. Next test will be the 200ma and, perhaps, lateral support sitting at around 6140 ZAC.
If these fail, we're likely headed back toward the MT trend-line which waits down below.
STXRES is an ETF that tracks the Resources Index, and is likely therefore a fair reflection of the mining sector as a whole.
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