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…
Sector of interest XIJ from within XAO and that of XJO. Ratio analysis or relative strength analysis clearly shows it’s relative outperformance against that of XJO and also the overbought conditions that it has now reached. This overbought conditions worth comparing with the prior 2010 correction as there are some…
Are we in the final bullish wave with XPJ.ASX if it’s long term monthly chart is examined ? According to my forecast the answer is yes. We are now witnessing an attempted upside breakout which suggest that the 5th and final bullish wave is now on display.This will complete a whole cycle…
Overbought without a doubt with no bearish cross over from the short term dual moving average XOver system to suggest a deterioration in the current short term( daily) uptrend. My choice of short term dual SMA selection is 10 and 30 periods. Overbought on the other hand is defined by the trendline drawn from…
Monthly short term chart analysis of XAO is being examined with this post. A short term (individual bars/candles) bullish pivot point reversal is in the bag at the close of the last bar. Please study meaning of your pivots from FIN231 if you wish. What to expect now ? This behavioural…
No need to describe what happened, but rather to visually show that on the chart. Pattern height now can be projected to the upside for a potential target. I do expect a test of the 200 day SMA and that of the pattern target over the days ahead. RSI is an interesting…
Have we seen the worse with XAO ? According to this chart we may have. If we have, is the FLAT PRICE ACTION behaviour now on the horizon ? Possible and one likely scenario. A bearish forecast from a CLOSE ONLY, Box Size 50 Points, 1 Box PnF Chart which is courtesy…
Focusing on the last major leg and the current correction with XAO weekly. Nothing new just a recap. All on the chart not requiring any descriptive analysis. This said, I am at the opinion that we are likely to see a new low lower than that of 5419 with XAO at…
All Ords. is now testing a support line of the up trending channel in the long term monthly chart which is almost a cluster level with the Golden Retracement Mean of 61.8 %. Will we see the support kicking in and a potential bounce from current levels ? Stay tuned…. Chart is…
Be warned, it may be boring but very useful once the concept behind the theory is clearly understood. Is the major trend still intact, if Dow Theory is applied to the current monthly XAO chart ? Answer is illustrated on the chart. Change we now have is only applicable to intermediate term trend within the…