LATEST UPDATE ON MARKET MOVEMENTS

Still the market sees little volume of trade. Reported trades as late as yesterday show there is a wide spread in the market with sales between $380 and $450. Perhaps the ballot in the Murrumbidgee has 'flushed' some water onto the market!

The Greeneye Visual Trader suggests:

Uptrending flowlines are supporting the market and pushing it higher. The daily chart shows support at 360 and resistance at 490 and 560, all rising.

This chart also shows a convergence of the flow lines foreshadowing a potential market reversal, possibly in Oct/Nov, consistent with water price seasonality.

Long term chart continues to show major long term resistance at 560-600 with immediate resistance at 460. Very strong support around 360.

Here is the latest update of the charting with trades to Monday 7th September (remember to click on the image to get the full view):