There is a performance chart with little analysis below the first XAO chart also which may be worth looking at.
I am zooming in to the most recent high of May to date, within the larger trading range. Each leg, up or down, has the HALT/STOP. Is there one here ? Yes, See the buying wave marked with dashed Blue. That is where the HALT/STOP was on hand. This now enables us to anticipate a mini trading range within the bigger one where the boundaries are marked with Blue support and resistance lines. Yesterday, we had a bearish pivot off the resistance on high volume which may suggest test of the zone of support. In short, worth watching the support and resistance of the mini trading range and judging the market by it’s own action alone. OBV at the bottom window is BULL which may suggest that this mini trading range may resolve itself with an upside breakout. Should that be the case, I would not be surprised to see the May high tested.
Performance chart of various asset classes over a 20 day period which one may also find interesting. XAO is outperforming both SP as well as DAX. Copper is the standout out of the commodities.
Chart below is courtesy of StockCharts.com
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