Today at a glance: overall, ASX shed around 30.5 points or 0.42% and ended today's session at 7,229.
Australia Retail Sales fell short of the 0.5% projections, with new data of -0.2%.
While price action maintains a negative bias, Australia CFTC AUD speculative net positions released today at 19:30 UTC with a figure of -42,800, while the previous figure was -44,700.
ASX 200 made an initial break below its 3 day Simple Moving Average at 7,223.5, a possible indication of a forthcoming negative trend. ASX's upper Bollinger Band® is at 7,333.51 which indicates a further downward move may follow. Despite this, ASX could begin to recover as it approaches significant support, now 2.4 points away from 7,226.7. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen today and forecasting ASX to extend its recent losses.
In the meantime, negative performances are also seen in other markets, after ending today's session at 34,347, Dow Jones lost 497.57 points and is trading around 33,849. KOSPI Composite Index lost 1.21% today and closed at 2,438. S&P 500 lost 1.54% today and closed at 4,026.
The index has been trending positively for about a month. ASX hit a significant low of 6,434.7 around 5 months ago, but has since recovered 12.82%.