ASX 200 Industrials (XNJ) Relative Trend.

First chart is XNJ/XJO relative strength chart and second is the XNJ both being in monthly time frame in order to observe the BIG PICTURE and the position within. A sector to keep an eye on XNJ.

XNJ/XJO relative trend ( ratio analysis) is worth keeping an eye on as the congestion is likely to resolve itself in favour of the Industrials. That is an upside breakout from the current Box of Tricks/Congestion/Flat Price Action. Should this be the case, It is expected that Industrials (XNJ) will outperform that of XJO (ASX200) over the coming months in a meaningful way.

We are now witnessing the price action having another crack at the resistance zone of the box of tricks and holding firm within the top box. Can it stage a relative breakout after the recent third test ? Matter of time IMHO.

Charts are courtesy of


On absolute basis here is the monthly XNJ chart which is self-explanatory.



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