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Verplak85

11,268 Posts.

1375

13/06/22

19:52

Post #: 61976407
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Originally posted by Neo888: ↑

I, respectively, don't see it this way. Technicals aren't the whole puzzle, but they certainly play a part. Nothing goes up or down in a straight line. Could the XJO hit 6500 this week? Absolutely it could. But I would say it's more likely that it goes up 100-200 points first and then heads lower. Look at the chart, it's been an absolutely brutal sell-off with no pauses.

This is the lowest daily RSI since the covid crash. Sure, inflation came in higher, and rates are going up - but this is overdone in terms of straight selling with no bounce.

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Hard to say really. This even sounds or is a lot worse than the 2008 financial crisis. We can look at the data and while I don't want to scare anyone as I'm still invested in 2 lithium companies, I can't help or ignore the data.

Is it even worth the trade?

XJO Value at posting: 6,932.0
3 Upvote

0 Great analysis

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