XAO Technical Analysis

[notting]

Hangen in there,
Trying to stay above 5121
BHP is bashing it but banks are doing their thing.

 

[Boggo]

Another few days should take care of it

(click to expand)

 

[pavilion103]

I'm hearing Santa. Oils turning. And Gold is coming off.

No sight of him yet

 

[notting]

He's being stuffing his sack with a lot of liquidity into Chinese banks
Announced a few big spending Chinese infrastructure projects whilst lowering interest rates over there.
And he's been sloshing the most awesome stimulus all over the joint - Oil.
I"m still giving the fat man the benefit of the doubt, but he's cutting it fine.

 

[notting]

I only have one thing to say about today and yesterdays action

 

[nulla nulla]

Todays action couldn't be described as anything else than a Christmas Rally. Merry Christmas to all those that closed out their trades in todays rally at profit. And there is still two and a half days to go. Can it go further?

 

[Ann]

Happy New Year Joe and all the crew!

To give the full picture for anyone interested please look back to this post. https://www.aussiestockforums.com/f...=4888&page=467&p=836245&viewfull=1#post836245

Let's do an update.

Looking at the chart, if there is a retrace it may well hold at 5000. After nearly five months the All Ords is still banging its head on the overhead trendline. It looks as though it is getting a bit tired and may do a retrace. (Licks lips with buying opportunities.)
.....and now the chart.

 

[Ann]

Just updating my last chart for the All Ords. Please note this chart is set in Log scale, daily and with a view of 15 years price history.

It appears to be making another attempt to get above the long term trending resistance line. The indicators I watch are suggesting the All Ords is overbought which is not encouraging. Let's see if it can get over the line.

 

[tech/a]

It is amazing how many lines
Can be drawn on a chart and
Be interpreted as meaningful

 

[Bintang]

It is amazing how many lines
Can be drawn on a chart and
Be interpreted as meaningful

I presume you mean the three straight lines?
The only line that is meaningful for me is the zig-zagging one.

 

[tech/a]

I presume you mean the three straight lines?
The only line that is meaningful for me is the zig-zagging one.

Ha ha
Yeh

 

[Sean K]

It is amazing how many lines
Can be drawn on a chart and
Be interpreted as meaningful

Same with any T/A tech. You just think yours is better. Don't you? Your T/A is better! I have got no idea what has happened to your grammar though. Get a grip.

 

[Logique]

I tipped XAO at 5900 at year end, so how do you think I feel!

In support of Ann, a steep rise like this latest one generally needs a technical retrace, and momentum indicators look way overbought.

On the other hand, you could draw a sloping line across the top, and say it's just returning to an uptrend.

 

[tech/a]

Same with any T/A tech. You just think yours is better. Don't you? Your T/A is better! I have got no idea what has happened to your grammar though. Get a grip.

Yeh mine is applied correctly.

wots rong with me gandma???

 

[rb250660]

I have got no idea what has happened to your grammar though.

Yes, I am not sure why every sentence is stopped half way through, restarted on a new line with the first word capatilised. Is it meant to be poetry? It's quite unusual.

 

[Ann]

It is amazing how many lines
Can be drawn on a chart and
Be interpreted as meaningful

It certainly is amazing tech/a! Although I prefer to keep to a maximum of three lines as a rule.

I guess it is like a group of painters drawing a portrait, no two painters will draw the same absolute view, but each portrait may be equally representative of the truth of the subject.

On the other hand, you could draw a sloping line across the top, and say it's just returning to an uptrend.

Yes could be just as true Logique!

 

[pavilion103]

Yes, I am not sure why every sentence is stopped half way through, restarted on a new line with the first word capatilised. Is it meant to be poetry? It's quite unusual.

I think
You're being a
Bit too harsh I think
Content is more
Important than grammer
Is.

 

[Julia]

I have got no idea what has happened to your grammar though. Get a grip.

It's more a matter of style than grammar.
Starting a new line with a capital letter, where once it would have been mandatory to write all one longer sentence, gives emphasis to the content of the new line.

I'd much rather read a post set out like Tech's than a long, dense paragraph.

Your own use of "got" above is unusual. Most people would simply say "I have no idea....."

 

[Ves]

Yes, I am not sure why every sentence is stopped half way through, restarted on a new line with the first word capatilised. Is it meant to be poetry? It's quite unusual.

See here.

 

[Boggo]

I reckon tech/a is typing on a small screen mobile device which is going to the next line and auto capping.