Yesterday I was inclined to view the bullish side with just a teensy little bit of optimism. Today, I'm just a little bit more optimistic.
Today's candle finished above its mid-point, so intra-day buying was evident.
The XJO bottomed at around 11.00 a.m. and then rose steadily until 2.00 p.m. The index then went more or less sideways in the afternoon session. I would like to see further buying pressure in the afternoon, but that didn't eventuate. Nor did selling pressure eventuate.
My optimism hinges on the positive divergences showing up on indicators. That could mean just a little bitty upside bounce is coming, or, maybe, a strong counter-trend rally.
We still need to see a strong upside day to confirm.
RB
Short Term Trading Week Starting: 19 November 2018, page-54
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Last
8,539.0 |
Change
59.100(0.70%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,479.9 | 8,539.0 | 8,479.9 |
| XAO (ASX) Chart |