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XAO Technical Analysis

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Re: XAO Analysis

MRC & Co said:
My vote for the next few trading days is sideways to downwards chop.

After that? Not sure yet.

Be happy to take shorts a little higher, say 935s for now.

Be happy to cover around the 900s.
Click to expand...

I've been waiting all night for an opinion on the xao.

I dunno.

gg
 
Re: XAO Analysis

makingmoney said:
wow 4 strong days from the dow and the bulls r out again...lol
Click to expand...

I'm on the road today so don't have charts, and my driver manages to hit every pothole on the Flinders Highway, but the xao chart on asf looks a bit sick to me today.

Find a buyer.

Its a zero sum game and you don't want to be the zero.

gg
 
Re: XAO Analysis

Just managed to get a link back on.

XAO looks parlous on asf chart.

gg
 
Re: XAO Analysis

I might believe that if i hadnt heard the exact same sentiment about half a dozen times since the March lows.
 
Re: XAO Analysis

RayG said:
Hi Lonely, I'm confused, does anyone have some insight into what's driving this rally?

My only guess is the bears are panicking....

Regards
Ray
Click to expand...

Cause everyone was short... Massive squeeze.
But looks like a few bears are getting back into it today.
 
Re: XAO Analysis

gfresh said:
Window dressing..
Click to expand...

Is this the same window dressing that was being done in the lead up to the end of the financial year?

You know the theory that once the new FY begins we are headed for the Abyss
 
Re: XAO Analysis

You know i really think that a lot of people have had their pocketbooks and "strategy" so brutalised over the last 18 months that they simply cant see the forest for the trees anymore.
 
Re: XAO Analysis

Garpal Gumnut said:
I've been waiting all night for an opinion on the xao.

I dunno.

gg
Click to expand...

lol, sorry, my post was for the S&P, been watching it too much lately

Assume similar for the XAO over the next few days. Today being the first.
 
Re: XAO Analysis

we've just seen either a 3 or C - question is whether or not its completed - if it has then look for a move back to .236 or .382 zones next week, imo
 
Re: XAO Analysis

Some patterns, just for interests sake. I'm probably neutral atm with a slight bullish bias. Needs to break 4100 with some conviction to make me bullish till around 4300-4600, prices back under 3900 could mean more sideways action, under 3700 and I'm bearish.

Daily chart 1st & Weekly chart 2nd.
 

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Re: XAO Analysis

And a larger, more complex, H&S is still in play.

I'm sort of hoping the alternate count is in play, and we've seen THE low.
 
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