Since reaching the Head and Shoulder target two weeks ago, the XAO has moved sideways.

The sideways movement has been between two major weekly support lines, until today. Friday was with the move. There are several signs indicating there is a weakness in the move and has less probability of continuing.

First, is the low volume the breach has.  Volume is a key in any sustainable move. Second, is the four (4) other indicators we use in the trading room.  Everyone of them is showing conflicting signs to the downward move. As the XAO heads down the indicators are starting to strengthen and rise, suggesting the move will be short lived.

Does this mean we can expect some bullish moves next week?

(click on image to enlarge)

 
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