Just thought I would start the tuesday thread early with a chart.
Trend is still up according to all my trending indicators but weakness is starting to show. TSR has a nice textbook bearish divergence happening and both ECO2 and ADX are showing a weakening trend.
Most importantly is price is struggling now it has only just made new highs after a hit on the super trend. Next time it hits the super trend I suspect it wont hold.
The bulls are trying to get traction but are slipping in the mud as the bears chase them.
Not time to go short yet on the daily but it could be soon. Tonight's strength OS is possibly a short term short signal though.
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Last
8,666.9 |
Change
-42.500(0.49%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,709.4 | 8,709.4 | 8,658.2 |
| XJO (ASX) Chart |