XAO Technical Analysis

[Wysiwyg]

Hi Wysiwyg

I use the Stochastic, rather than the MACD, to detect divergence.

Sorry mate. Just assumed.

 

[Gringotts Bank]

Breakout

 

[craiggary]

Re: XAO Analysis

Well if you make enough predictions about everything, you'll eventually get a few spectacularly right.

GP

He also won a trading competition in the 80's where he increased his account by more than 400% in 4 months.

 

[Garpal Gumnut]

Just sayin to all you bulls out there , that there is a serious divergence between price and the RSI on the XAO.

Price going up.

RSI going down.

Good luck for those entering the market this month. You will need it.



gg

 

[Porper]

Just sayin to all you bulls out there , that there is a serious divergence between price and the RSI on the XAO.

Price going up.

RSI going down.

Good luck for those entering the market this month. You will need it.



gg

We've been watching the divergence since Friday although it hadn't triggered then...it has now. An interim high in place. Gold similar.

 

[Gringotts Bank]

I reckon 5300 tomorrow, (as double top breakdown target).

 

[RazzaDazzla]

Strong bounce today, appears to have just exceeded the 61.8% retracement from the recent drop.

Where to next?

 

[Wysiwyg]

Basic analysis of the XAO with a monthly chart drawing a line through the two most significant peaks. In my opinion, 5800 is the area of near term interest on a monthly basis (like not tomorrow ). The two periods semicircled are obvious support areas. Mid range now.

 

[Logique]

Wouldn't surprise to see a near term pullback. But the trend seems to have changed.

Crowding into that monthly wedge of yours Wysiwyg.

 

[Gringotts Bank]

Looking like a 2-3 day dump in store, the 3rd day with less volatility.

Not liking the possibility of rebound at the moment.

Gold?

 

[Porper]

Looking like a 2-3 day dump in store, the 3rd day with less volatility.

Not liking the possibility of rebound at the moment.

Gold?

The safe haven scenario won't play out i.m.o until the market gets the news that U.S rates are on hold again. Then it could fly.

Lots of the goldies looking to lock in lows judging by the patterns.

 

[Gringotts Bank]

Looking like a 2-3 day dump in store, the 3rd day with less volatility.

Not liking the possibility of rebound at the moment.

Gold?

That played out ok. Maybe a rise now so I can offload a few stocks from today.

Gold soon maybe Porper.

 

[Gringotts Bank]

50% retrace with little hesitation + a push back above the long term trendline. Seems bullish.

 

[Logique]

Tend to agree so far Gringotts. Upward progress from here would be very encouraging.

 

[Gringotts Bank]

Everyone's lines are different. These are mine, with a possible projection.

 

[Gringotts Bank]

I'm reconsidering that bullish prediction from yesterday. I think the Ords is very close to getting smashed into the red.

Main reason - mean reversion just hasn't been happening in the last two weeks. Combined with worldwide political instability (Russia, Malaysia, Philippines, North Korea, USA), could be the perfect storm.

[edit] Markets don't allow you a foot in both camps. So I've started selling.

 

[Gringotts Bank]

This week I had 3 orders miss by a hair's breadth, missing out on the equivalent of 3 weeks of expected salary. Who cares? No one. But that's slippage for you.

Top line is being respected.

 

[Gringotts Bank]

Look out.

 

[Roller_1]

my view - if price closes below todys close tomorrow then it will test the 200 day ma; which has provided some support/resistace recently. If that breaks then probably head towards 5200-5100 area. Which is the lower boundary of a possible major triangle pattern off the 2009 lows.

 

[Gringotts Bank]

Zoomed in. Re-test of old support. Now to continue southbound.