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pjmcauley

XJO/ASX Megaphone Pattern and Wave 2 ABC Correction

Short
S&P/ASX 200 Index (ASX:XJO)  
pjmcauley Updated   
ASX:XJO   S&P/ASX 200 Index
Support and Resistance Wave Analysis Elliott Wave
4
0
supportandresistance waveanalysis elliottwaves
The XJO Daily appears to be topping. The retracement looks like Wave 2 ABC Correction and price has retested the trend line coming up from previous highs forming something resembling a Megaphone Pattern. Volatility should be high going into Christmas.
Comment:
Bearish outside candle. The up cycle is likely at a end for the XJO.
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