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Weekend Charting and Chat - 7th August 2015, page-23

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gj0201

4,241 Posts.

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08/08/15

23:22

Post #: 15774470
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Originally posted by redbacka ↑

Here's an interesting Weekly Chart for Rio:

View attachment 85588

Since the end of the GFC, highs in Rio have tended to run about one-year apart. That's very rough but the chart gives you the general idea.

The next high could be expected sometime in February or early March.

No guarantee of course that it will be a higher high.

The "pin" candle which occurred five weeks ago and bounced off support, suggests we've seen the low in this cycle.

There'll be plenty of ups and downs in the next few months - but the general direction might just be to the upside. We'll see.

RB I had never appreciated how the volume of xjo posters is inversely proportional to confidence until you pointed it out; go figure.

Went for a walk with fam this evening and spotted 2 black swans. Anyone like to name them? I thought "China bubble" and "US Interest rates" might be applicable names. But then we understand those 2 events so perhaps not Black Swans? )

And if you want to read about perhaps the biggest black swan in history; something that WILL change the world dramatically have a go at this article:
http://waitbutwhy.com/2015/01/artificial-intelligence-revolution-1.html

Cheers g

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