ASX Weekly Chart Series
I have trialled something different this week by placing two lines relatively close to the current price action.
These lines have an arrow denoting where price needs to break through to be in potentially bullish territory and begin or a continue an uptrend. Or to be in potentially bearish territory, where price would breakdown and begin or continue a downtrend.
And in between the lines is a neutral zone where price may be consolidating recent gains, or absorbing supply (either positively or negatively).
We'll see how this goes into the future.
It seems a good way to illustrate where the breakout or breakdown levels are in relation to the current price.
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XJO
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Financial X-Property
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ASX Mid Caps
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Metals and Mining (which is a clearer chart to read than Materials at the minute)
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Energy
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Gold
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Small Caps (ASO), Info Tech (XIJ) & Consumer Discretionary (XDJ) all accelerated higher this week into potentially bullish territory
Most other sector were not particularly interesting, either continuing to grind higher (XSJ), or consolidating or reluctantly pulling back without breaking down.
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If anyone wants a particular secor chart, gimme a shout on the thread.
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View attachment 892703
@Anton Chigurh @cha @CaptainGrumpy @Pisces Thought you might like to be tagged into this obscure thread, also perhaps check the post below (on Saturday afternoon for the overseas markets).
(20min delay)