XAO resistance at 6050-6060 but also will see significant resistance at 6000 as this represents a 50% retrace level from the big sell off we have just had.
XAO Support at 5220 which is the bottom we had just reached before it shot back up closing with a large tailed hammer for the week. Also note that 5220 is 38% fib level for the bullish trendline that started 18th march 2003 and topped at 1st nov 2007.
As I said before, we are dead smack in the middle of no mans land, looking at SPX and Dow jones just shows that they are also at a point indecision (note the long legged Dojis) in the weekly charts.
As usual it will be up to the U.S. to determine what will happen.
just my opinion.
XAO resistance at 6050-6060 but also will see significant...
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$63.84 |
Change
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Mkt cap ! $12.37B | |||
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