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.
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