Alternative scenario to your chart is that it will jump the resistance trend line and that will form the new support. My thinking is that catastrophic crash / correction occurs when there is no more capacity expand (restrictive interest rates to coupled with high inflation). We have mild 200 point fall supported by daily 200MA and now heading towards 7000.
Looking at the weekly trend, it is highly possible now that the red resistance will be the new support till another GFC type scenario. That is if it surge pass 7000 and stay above it. So my scenario is that tech will drive it up pass 7000 towards 8000 for 2020 and then we have a tech crash for correction (It has been over 20years since the dot-com crash).
My 2 Bobs worth.
Alternative scenario to your chart is that it will jump the...
Add XJO (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
7,959.3 |
Change
69.700(0.88%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,889.6 | 7,969.1 | 7,889.0 |
| XJO (ASX) Chart |