xjo - weekend charting and chat, page-17

Sorry Robbo, that's a personally developed one I keep for myself - and only meaningful to me.

But here's a chart - with publicly available TA which points to much the same thing:

We had a break lower from the bearish rising wedge. Then a throw back to test the old support of the wedge - now resistance. Sometimes referred to as "the kiss of death" - then a bearish engulfing candle.

Divergence on the RSI and then turn down suggests further down side. Money Flow Indicator is weak when compared to price action.

It's just a blip at the moment - may or may not mean something. It would be more meaningful if we had a sell signal on the weekly - but we haven't got that yet.

US$ Gold was strong on Friday night - but lately NCM hasn't always been responding positively to strong upside in US$ Gold. Thursday night, for example, GLD (ETF for US$ Gold) was up +0.34%, but NCM was down on Friday in Australia -2.02%.

Redbacka

Redbacka