Where from here with XAO 21/08/2015 ?

Bearish developments continue with the broader  world markets including XAO. Our main focus is XAO and further analysis over the weekend would be forthcoming. But for now, it may be reasonable to assume that the previously posted 5200 tentative bearish price objective may be met soon. In the event that it did, I have drilled down the most recent top with finer chart ( smaller box size ), for further insights, as to where this current correction may end. If and when the prior 5200 bearish price is met, the new tentative price objective would be 4820 to replace it. Wyckoff Horizontal Count Method is used.

As always the price objectives are rough estimates which may or may not be met  or even exceeded.


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