A little more on consolidation ..In Nov the market shut off the down move and eatablished a range ruffly 4000-3200 as it turns out the value price of consenses is 3505 ,,this is the most traded price over this period. in this range there are 3 periods that stand out to me they are.
1. overall the average daily range has been 123 ticks with an av Vol of 20,870 contracts traded and again the mean price of 3505.
Levels 3800,3680,3610,3505,3400.3300
2. beginning feb ..a tighter range 110 ticks but an increase of vol to 29503 with a mean price lower @ 3450.
I said last week i thought the bigger players were getting set on the long side ..and this occoured naturally below value of the larger bracket .
3. recient trading comming out of this recient consolidation period (2) has moved with the long set higher..mean price or current value of 3510.. however the av range is now reduced to 74 and Vol is down to an av of 17870... some ta;s would describe this as a decending triangle ..
hence perperation for a move..
before we go up we need to see commitment obove the first important level of 3610 ..otherwise where heading to test the lower levels ..and thats not good because it means that despite all efforts the upside is in danger,
- Forums
- ASX - By Stock
- XJO
- tuesdays spi
tuesdays spi
-
- There are more pages in this discussion • 71 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
8,060.8 |
Change
107.600(1.35%) |
Mkt cap ! n/a |
Open | High | Low |
7,953.2 | 8,061.6 | 7,952.8 |
Featured News
XJO (ASX) Chart |
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, CEO
Anthony Noble
CEO
SPONSORED BY The Market Online