XHJ ( ASX 200 Healthcare Index) Long Term Outlook.

Secondary correction within a Major Uptrend/Bull-run maj be the simplest way to analyse this sector.Is there lack of strength with XHJ ? Only answer would be NO.

Despite the intra-month sell off in March can we see a short term bearish reversal ? Again the answer is NO.Infact, the last short term reversal was in October 2018 !

RSI at the bottom window also in a BULL RUN confirming the price.

Above said, it is reasonable to assume that the correction is in affect and will remain that way over the 5-10 periods ( months).With it’s MAJOR TREND being BULL it is also reasonable to assume that the next major move is likely to follow suit. Blue sky ? Sure is.

As the legendary analyst and trader form the Golden Era of TA would say/ask “Where is the least line of resistance” ?

Here is the Monthly followed by weekly showing the likely price action behaviour which is likely to be a FLAT correction in a trading range or a congestion.

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