Normal
XAO is still in a downtrend at the moment nothing has been confirmed as yet that the move down has completed.Although we have also been moving in a sideways pattern as well starting back in August 15 and trading in a range of 4900 and 5400.As Craft also mentioned that it did break lower but did manage to close above the 50% retracement level.My view at this stage is that we need to stay above a close of 4896 for the XAO and close above 4880 on the XJO otherwise we will head lower.
XAO is still in a downtrend at the moment nothing has been confirmed as yet that the move down has completed.
Although we have also been moving in a sideways pattern as well starting back in August 15 and trading in a range of 4900 and 5400.
As Craft also mentioned that it did break lower but did manage to close above the 50% retracement level.
My view at this stage is that we need to stay above a close of 4896 for the XAO and close above 4880 on the XJO otherwise we will head lower.
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