Last week, the ASX managed its highest close since mid-August at 5372. It twice reached intraday highs above 5400, but failed to close at these levels. The candlesticks for these days – Wednesday and Thursday – have formed textbook reversion dojis, a pattern showing a large intraday rally (reflected by the line) but, comparatively, a very weak close (reflected by a squat bar). If the ASX does begin to roll over, the 20-day moving average is going to be a key support level. A close below 5270 would be a key signal that a sharp reversal could be imminent.