XJO EOD DAILY CHART UPDATE 03/08/2015.

We have seen a resistance at the previously tested zone of 5700. If we are to see  a breakout out , in the next few days, 5800 would be the next resistance zone to watch.

Should we see a rejection on the other hand after a third test, another test to the support zone of 5400 may be on the cards.

One way or another ( up or down ), this  pattern would resolve itself either with a breakout or a breakdown, as to when, I doubt anyone knows. We may forecast, but I rather wait for a confirmation by the price action.

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