Re Visiting XAO PnF Chart.11/02/2016

I have re visited the 2011 period to see how accurate the tentative bearish price objective taken from the 2011 top was. Not bad IMO for a 50 point box size, 3 Box Chart. The Objective was exceeded by approx. 50 points then.

The current Tentative Bearish  Price Objective from the April 2015 top is @ 4750 which we have almost touched yesterday. This may suggest, at least some sort of a temporary floor for this down trend with XAO at current levels. Whether or not that may be the case, remains to be seen off course.

If we fail decisively at current levels, I will then go back to the drawing board for further count/counts.

As always, a count is an estimate which may or may not be met or even exceeded in strong trends.

xaopnf11022016

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