A quick look at yesterday: ASX dropped 53.9 points early on and stayed at 6,676.8.
Amid the market gloom, Australia CFTC AUD speculative net positions released yesterday at 19:30 UTC with a figure of -35,400, while the previous figure was -31,300.
ASX 200 made an initial break below its 10 day Simple Moving Average at 6,718.57, a possible indication of a forthcoming negative trend. Despite this, ASX could begin to recover as it approaches significant support, now 22.73 points away from 6,654. Dipping below could be an indication that further losses are ahead.
In the short term, ASX is expected to maintain its recent downtrend and continue spiralling lower.
Positive performances can be seen by looking at other markets as Dow Jones jumps 2.47% yesterday and closed at 30,334. S&P 500 is trading around 3,752.75 after ending yesterday's session at 3,665.78 (up 2.37% today). Notably, Nasdaq rose 2.31% yesterday and closed at 10,600.
Furthermore, Australia RBA Assist Gov Kent speech is scheduled for tomorrow at 22:05 UTC.
ASX has shed 10.76% over the past six months.