jaolsa,I assume you mean that the recent highs wont be taken out for some time ? ie. that it will play out as Caldero suggests.
I'll be contrarian here and say we saw the lows in March. We have played out a nice 5 wave pattern since then,to the recent June highs and its time for a pullback, how far is hard to tell becasue we have tested a few support levels on the way up, but the MACD divergence on the weekly needs to be worked off, so that would either mean we have a few steep falls or this could drag out a few weeks.
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Last
8,580.1 |
Change
-9.100(0.11%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,589.2 | 8,619.8 | 8,568.2 |
| XJO (ASX) Chart |