xjo

Saturday, May 07, 2005 - 01:13 am:

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4028PPL 20/1/05 - 4097PPL 25/02/05 = 26 day cycle
3878PPL 09/12/04 - 4096 PPL 18/01/05 = 26 day cycle
These are interim cycles within daily the market structure
4059PPL 30/03/03 - 3927PPL 05/05/05 = 26 day cycle
The completion of a cyclic high or low point is a significant timing point but really should be confirmed by the element of price in the form of a higher low or lower high .

The run down from 4266 was symetrical in price as confirmed by an ABC downside projection with 360 deg of the range coming in at 3960 - recent price action has tested this zone and closed marginally above it for the moment completing a 26 day cycle off yesterdays low so a higher low is required to validate a turn in trend .

Range Analysis :

I have projected a downside retracement grid from 4060PPL and we can see the 180 deg point in direct alignment with our ABC projection low at 3956 .
If this lv is broken my next downside target is 3854 which is a very important technical juncture - this will mark 150% ABC projection in direct alignment with 360 deg downside range projection .

2696 - 4266 1/4 = 3873
3510 - 4266 1/2 = 3888
1139 - 4266 1/8 = 3880
average = 3880

XJO support zone = 3854 - 3880