Drilling down XFJ (ASX 200 Financials Index)01/09/2015

I am keeping a close eye on XFJ, ASX 200Financials Sector. If and when we see a resumption of a new BULL RUN with this sector, our broader XAO is likely to be lifted again. This is the Daily,3Box PnF,Box Size 65 points,H/L chart which is used for tentative price objective calculations. There is a confirmed high pole and an active count giving us a tentative bearish price objective of 5055 which is approx. 16% away from where we have closed today 01/09/2015 !

5000 ZONE with XFJ  is also a MAJOR CHART SUPPORT as well, which should also be noted.

As always these tentative price objectives as their name suggests are rough estimates which may or may not be met or in strong trends exceeded.

Technicals are screaming for safety to be paramount at present after the most recent confirmations.

Disclaimer

All the information and analysis provided on this website is general in nature and for educational purposes only and does not constitute financial advice. No content in any way implies a recommendation to buy, sell, hold or short sell any financial instrument, nor is it financial advice.

Investing and trading in financial markets carries considerable risk, and should always be done in consultation with a licensed financial adviser taking your personal circumstances, financial situation, objectives and needs into consideration. The information on this website is no substitute for financial advice.

XFJTPO

 

 

Comments are closed.