see chart 50% move or measured target is 5700 which will be supported there by 200ma. full move will test channel support
a 4th test of long term LT trend line TL bay not hold. other factors showing bigger bears to come. possible bounce area 6124'ish take your cash off the table while there is still some there
The All Ords managed to bounce on its 500 EMA in the last trading session in the 60 minutes price chart but will need to get back above 6119.70 to convince more buyers to participate
Fellow traders/analysts, prior post of mine looked at EW forecast of an Intermediate Degree where the target of it is also shown ( top forecast at 6764) shown at the top of this chart. Time to look at Point and Figure chart to see if there is a harmony/sync between two ? We must bare in mind the box size of this chart in this analysis ( 40.4 points). What do we...
Long term monthly chart of XAO, focusing on the intermediate degree swings within the next higher degree/time frame. It appears as though the floor for wave 4 is now set at 5834 ( low of penultimate bar). As long as this level is respected, next bullish objective which is likely to mark the high point of the current impulse/motive wave is at 6764 from this EW...
A bearish rising wedge has been forming on the All Ordinaries -1.20% since 2009 (see monthly chart). A downside breakout will occur below 5,600 points, with a target of 3,365 points. The shorter term outlook is likewise bearish . On 5 February a Heads and Shoulders breakout occurred, which was confirmed when prices met the neckline at 6184 points on 27...
This analysis of Australian All Ords. (XAO) is for EDUCATIONAL PURPOSES ONLY. It is my view that, latest price action behaviour experienced with XAO has started the process of a MAJOR DISTRIBUTION/TOP. Bar marked as "Sign Of Weakness Bar" is likely to have follow through effect to higher time frames, in time off course. Distribution by smart money/better informed...
Not sure if the current C wave (if this is actually a larger B wave of a zig zag) has finished and we already have an impulsive structure down...
Oh Bear,,,This weekly structure could become really nasty
Australia could be headed for it's first recession in over 23yrs. house prices just keep going up, wages are stagnant/decreasing, part-time jobs are on the rise and we all know about certain commodity prices. would love to see a re-test of the 50ma. shall be watching closely over the coming weeks.