xjo weekend zoomba lounge, page-45

Great analysis as always Red, thanks for that. Interesting night for sure but I'm a bit suspicious there was a lot of hidden supply and distribution going on in that bar. On the shorter timeframes it looks to have been taken up strongly on the open but then basically just inched along and up slowly for the rest of the session bar the last hour. I think there's going to be a bit more upside from the momentum of this move maybe Monday and Tuesday and that will see us at the top of the BB and then we need to see this big bar tested to really find out if there was supply present.

The monthly chart looks like a backtest on lower volume but the MACD divergence is a worry. The Weekly again looks like a test back into supply, so on both those timeframes i guess we need to see some follow through. Agree with you though there is every possibility we can revist the top from April.

A short/midterm term rally for the boys to sell into, I'm thinking.

Cheers