I'm not sure which way this is going to break but it feels more like a distribution than an accumulation pattern.
My chart can be opened below. The last 2 retracements have failed at the 50% fib level and we have been travelling sideways for days.
My WMA's on a daily chart are 11, 21 & 35 if anyone is interested.
Obviously the market is not trending so extremely dangerous.
http://screencast.com/t/MTE3Yzcy
friday, page-46
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Last
7,699.8 |
Change
19.200(0.25%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,680.6 | 7,738.2 | 7,643.3 |
| XJO (ASX) Chart |