We are hugging the RESISTANCE ZONE with XJO with indecisive candle . A BREAKOUT or a REJECTION ?
MNY Weekly chart below in order to see our position in the trend. Prior MAJOR BREAKOUT in test acting as SUPPORT, with the daily BREAKDOWN of today. A bearish development. If the breakdown of today on daily TF is genuine, a follow through is expected. Lets see if that may be the case.
ANZ daily chart below. Can we see the scout boy crossing the creek with a mini breakout within the pattern? Level highlighted with red over a dashed blue resistance line.Zone of support is the one to watch to the downside.
FXJ daily chart with a breakout on hand. Will we see a follow through to confirm it ?
BLD WEEKLY CHART overbought after the recent run with no price resistance pending ( I don’t consider 2008 top as resistance), testing the resistance line of the up trending channel.
IMF daily chart. Have the scout boy crossed the creek with this min I breakout within the pattern ? A follow through would add extra weight to this.
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 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.