Generally agree with both @redbacka and @Jako64 here on there views on the XJO...i.e. probably see a bit of upside from here(from near 200sma). I also note that it(200sma) is still on the rise! Current level lows are also at the 38.2% fib of Feb.L to Aug. H range. Our 1st (near)200sma support in this run was at the 61.8% of the same range. Most of those 'touches' at the 200sma also coincided with the TL support(yellow TL) on the 'smoothing' CCI50. However, I do note also note that we are still on a -ve crossover of the 30/50sma's.
Looking at a 4_Hourly SPI chart and its "Fibs" that it has been 'telling' ... we could still have another 30pts down in this mini-bear move ... to ~ 5218/20 ... from current levels to be 'perfect' and if it gets there that's where I'll exit the remainder of my BBOZ's and add to my GEAR. That level is also the 76.4% Fib level of our last leg up.
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Last
8,590.7 |
Change
1.400(0.02%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,589.1 | 8,610.0 | 8,550.2 |
| XJO (ASX) Chart |