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ASX XJO Update

Posted In Stock market Education

XJO weekly Update

Hey everyone,

I hope your stock market trading is going well.

Just look at the XJO, is looks really weak where we are right now.

We found a nice support at the 4200 level which alos formed a double bottom and then we had a nice run up but we have struggled on a number time to break through a 4600 level.

XJO And The Weekly Chart

When I was looking at the weekly chart (below) you can see that we have two major resistance lines.

Because we failed to break above these lines ..I think we are in for a major down turn coming in the next 12 months or so.

Because when you look at the bigger pitcher meaning the weekly chart this looks like its had a rest and ready to go again.

Now, I’m not saying go out and start to put on strategies that xjo market money when the market goes down, but what I’m saying is just consider to at least protect your self.

Weither your trading the xjo or any other market this applies to the whole economy.

Anyway.. this is what i see happening in the charts.

XJO chart below

XJo weekly chart1 ASX XJO Update

xjo

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