XAO resistance at 6050-6060 but also will see significant resistance at 6000 as this represents a 50% retrace level from the big sell off we have just had.
XAO Support at 5220 which is the bottom we had just reached before it shot back up closing with a large tailed hammer for the week. Also note that 5220 is 38% fib level for the bullish trendline that started 18th march 2003 and topped at 1st nov 2007.
As I said before, we are dead smack in the middle of no mans land, looking at SPX and Dow jones just shows that they are also at a point indecision (note the long legged Dojis) in the weekly charts.
As usual it will be up to the U.S. to determine what will happen.
just my opinion.
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