XAO is tracing minute wave v, which is the last leg that will complete intermediate wave C and also primary wave 2. The most probable target for the end of this move is at 6,202. After this price should decline during primary wave 3 down to new lows. If price crosses down 5,700, the odds are that primary wave 3 has already started. FOLLOW SKYLINEPRO TO GET UPDATES.
Quick update on XAO and the broader Aussie market. It seems that insanity is the path of least resistance and the major index is set to target the 61.8% fib level, around the 6,200 level. This measured move higher from the bull flag would als coincide with the 61.8% fib level. The combined 'big 4 banks' are also signaling that a potential move higher is on...
America situation and Hongkong situation make people worry reactively. Money come to a relatively safe place Australia, Will people invest those money into stock market? Anyway, the market need a rest for some kind.
Minor wave C counter trend rally is under early stages of developing, after its formation odds increase after the cross up of the minor A level. The most probable target before the trend turns down again is the range between 6027 and 6322. FOLLOW SKYLINEPRO TO GET UPDATES.
Although the long term trend is down for XAO, there could be gains opportunities along the way in shorter time frames. We are now seen an Intermediate ABC pattern that should complete primary wave 2 when it's complete. We may see a wave B retracement between 4800 and 4900 points before gain opportunities arise in the intermediate wave C up. FOLLOW SKYLINEPRO TO...
ASX200 Daily fails twice to clear 38.2% Fib Retracement. Also, only completed 1 of three parts of 1-2-3 trend reversal requirement. Time will tell if the 2 and 3 will be completed.
Quick update on GOLD/AUD We appear to be chugging along in a relatively undisturbed uptrend, the Fib extension targets from the April-August 2019 wave higher are pitching a potential point of resistance at the $2,800 mark as this coincides with the 1.27 extension. With a potential overshoot to just shy of $2,900 (based on Keltner channel targets) Technicals:...
Let's start with the broader picture first I understand the market looks horrific at press time, but the first thing that you must know about markets is this, nothing every goes in one direction forever, no matter how bad it seems. For context here are the three major US stock crashes. 2008 Crash 2000 Tech wreck 1929 Great Depression The...
ASX:XAO dropped 39% from its high in Feb 2020 and has gained 15% in March 2020. With stimulus package announced earlier, Australian markets have rallied towards the month end. A clear uptrend will not be established until we have a month ( most likely AUGUST ) that closes above XAO 5400 which is the red Resistance line shown on chart. I do not see ASX close...
ASX:XAO XAO has been declining since the peak of cycle corrective wave b that happened earlier in the year. It seems to have finished primary wave 1 down and it is moving up in a 5 counter trend waves up that should create intermediate wave (A). The most probable target for the end of primary wave 2 up is at around 6300 points ASX:XAO when the retracement...
Closed below the downtrend. Several weekly and monthly levels have been already tested before. If we close above the downtrend in the coming week, expect the price to reach the untested weekly levels. Massive fiscal stimulus over the weekend and the Dow closing on the green on Friday might keep the Bears down earlier in the week, but the bad news and the panic...
6000 is the next level of support, if not we head straight into a bear market to 5400, which i think is a lower probability!
XAO has had 3 tests thus far to break out, however with MACD bearish divergence present any break out could be short lived. We could at some point early/mid next year see a reversal.
Is ST BARBARA LIMITED showing a double bottom? It could be a good buying opportunity next week if Gold Prices continues to go higher.
# Time culmination off the 2007 Top, 2009 Bottom and 2015 Top # Double Top 2007 # Top of price channel off 2009, 2016, 2018 Bottoms and 2011 and 2015 Tops. # Monthly RSI 70.35 - highest since 2007 Top. # Breaking the Dec 2018 bottom trend line. An opinion only - DYOR.
I have sold off all capital and moved to BBOZ 2x Leveraged SHORT TMF. high risk but i live for the biscuit!! massive amount of bearish div. across multiple time frames on RSI large long term distribution pattern (megaphone or expanding / diverging wedge) new ATH on index fractalised bearish patterns. parabolic year to date, floundering and failing housing...
In my humble opinion we have entered a parabolic section on Z1P. looking at exiting at $1.535 for a few reason with a pull back to the 61.8% level! Bump run on the longer term and on the intraday right now which is giving us a good exit signal, including MASSIVE BEAR DIV. on the RSI All of these signals make it to tantalizing to pass up! looking at an take...