Since the RED ALERT...
The ASX 200 is getting closer to completing its bearish H&S pattern, with a broad right-shoulder developing clearly under distribution. Weekly momentum remains increasingly bearish with supports at 5630 and the psychological 5600 soon to be tested over the next few weeks. The probability of further heavy falls and a "Bear Market" ensuing over the next several weeks to several months remains high.
The MACD formed a bearish down-cross during mid-Q2 since with an expanding negative histogram. Confirmation of this bearish signal continues with further negative histogram expansion. This is a very bearish signal. The Stochastic has formed bearish lower-high's since mid-Q2 within the bullish continuation region. Since recent confirmation of overbought conditions (<80), further downside acceleration has occurred confirming this bearish signal. Expecting much further falls from here.
- Forums
- ASX - By Stock
- XJO
- International Rock Thursday
International Rock Thursday, page-2
-
-
- There are more pages in this discussion • 35 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
(20min delay)
|
|||||
Last
8,344.4 |
Change
61.200(0.74%) |
Mkt cap ! n/a |
Open | High | Low |
8,283.8 | 8,356.4 | 8,283.8 |
Featured News
XJO (ASX) Chart |
The Watchlist
LGP
LITTLE GREEN PHARMA LTD
Paul Long, Chief Executive Officer
Paul Long
Chief Executive Officer
SPONSORED BY The Market Online