ANZ Point & Figure Chart Outlook.

ANZ Point and Figure Chart with a strong sell ( first sell within the uptrend) and a HIGH POLE in the making which does not look pretty at all. The count from it (High Pole) is only valid but not active and it is not nice either. There is an active and valid TENTATIVE HORIZONTAL BEARISH COUNT which is the focus here and it is shown on the chart. Although we had a CLOSING PRICE REVERSAL on the daily today, off the support, which may lead to a bullish pivot, there is a strong resistance in the zone of $30.50 – $31.00 to watch. A zone where shorts may fire again on any retest. The Tentative Bearish Price Objective for the H/C is @ $23.95
anzpnf10052017

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