From memory didn't one of the cycle types on here have a March 5 low? A daily doji close to the long term trend line has got to be worth something in the bull argument. If tomorrow is convincingly down i'm chalking it up at a break from the long term up trend. Depending on the way one draws trend lines it is a reasonable argument that the weekly chart has broken downward from the expanding wedge...
I've drawn the two trend lines options on the weekly chart in different colours.
I think the green line is the more accurate of the two. Finishing the week below it will make hedgy happy I think.
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Last
8,773.5 |
Change
28.300(0.32%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,745.2 | 8,821.0 | 8,745.2 |
| XJO (ASX) Chart |