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8,199.5 s&p/asx 200

Hi All, Is a cup & handle pattern starting to form? Cheers Obe...

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Obewan96

602 Posts.

7

14/01/17

10:36

Post #: 21893225
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Originally posted by Jagster Trading ↑

Below is a weekly chart of the S&P/ASX 200.

The S&P/ASX 200 had a BO during the week above major TL resistance from 2007 & 2015 and the 5800 resistance
area. The index has pulled back as expected after the BO and may consolidate before another attempt
at the 5800 resistance is made over the next few weeks. Weekly momentum is bullish.

The MACD formed a bullish up-cross a few weeks ago since with an expanding positive histogram. Bullish weekly
momentum is increasing. Stochastics have been forming bullish higher-low's since Q4. Recently re-entered the bullish
continuation region.

View attachment 411257

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Hi All,
Is a cup & handle pattern starting to form?
Cheers
Obe

XJO Value at posting: 5,721.1
4 Upvote

0 Great analysis

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