Here's a Point and Figure Chart for the All Ordinaries Index.
Recent action has resulted in a "low pole warning".
This suggests that supply has been absorbed and demand is taking over. (Using Wyckoff terms.)
A Low Pole Warning also suggests we might see some more down action before a break out above the most recent row of Xs.
A breakout above the top of the current row of Xs would be positive.
Good luck
Redbacka
xjo weekend zoomba lounge, page-132
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Last
7,921.3 |
Change
60.100(0.76%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,861.2 | 7,938.3 | 7,861.2 |
| XJO (ASX) Chart |