ASX Top HeavyLooking at the ASX on the monthly chart
Seems like a never ending 10 year bull market
*Years calculated since last retrace in 2008 to current 2019 is 11 years. We are coming to the end of another 10 year market cycle (or GFC)
*I've added an AB=CD (in blue) to price to project where D will end. I've also cloned price for a better visual.
*Target objective is showing to hit the 1.445 fib extension
*I've cloned the 2008 GFC pull back and added it to the top of price for a projection of where price may pull back to.
*The fibs from A to B retracement hit the 618 fib and with the clone setup from C to D also fit the 618 retracement which also happens to ling up perfectly with the trend line.
*Volume has dropped off significantly
*OBV has created a W indicating price wants to go higher
*Bearish divergence in the Histogram
*Will is embedded and stupidly over bought
*RSI is also showing bearish divergence
*VPVR is also showing that its in single ticks
*The 200ma is also sitting around the POC of VPVR at $35
*With a GFC inevitably lurking around its only a matter of time before this bull comes to an end.
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