Hot Copper Charting and Chat, page-659

XTL (and broad market XJO) is in limbo.
We had carry through buying today in XTL after yesterday's intra-day buying, But today's candle finished a smidgin below the high of Wednesday. We need to see more carry-through buying to reverse the current short-term down trend.

The smart money from Wednesday got it right for the XTL but not for BHP.

I haven't given up on BHP.

BHP may be consolidating at its lows.

It is currently at the lower edge of the Standard Error Channel from the high of late September. Stocks often bounce off the support line of a down-sloping SEC and head back up to the top of the channel.

BHP is also at the lower edge of a longer Standard Error Channel drawn from the low of early September.

So we have a double whammy there for BHP to bounce off.

We also have positive divergences on Force Index and MACD Histogram.

That's optimistic.

Here's a chart for Wisetech - the biggest stock in Technology (XIJ)

WTC has entered the big congestion zone developed. back in Sept/earlyOctober from which it had a big fall.

WTC is starting to struggle again opposite that congestion zone. Wed. it was down -1.32%. Today showed a fall and then intra-day buying came in to save it. That could be weak hands playing out for a final gasp.

Watch for a solid down day to confirm the bearish credentials.

Take care.

RB