Planet Wealth - Australian Stock Market Education » XAO Short Term Resistance? http://planetwealthblog.com.au We are a stockmarket investment company that educates people on the strategies we use to create both income and capital growth. Fri, 23 Dec 2011 00:20:36 +0000 en hourly 1 http://wordpress.org/?v=3.1.1 XAO Short Term Resistance? http://planetwealthblog.com.au/xao-short-term-resistance/ http://planetwealthblog.com.au/xao-short-term-resistance/#comments Sun, 31 May 2009 08:28:08 +0000 Planet Wealth http://planetwealthblog.com.au/?p=631
XAO Short Term Resistance?

 

The XAO had a fairly flat week this week, by gaining any losses and loosing any gains made.

There is a small pennant formed on the daily chart by the indecision of the buyers and sellers. Still being held up by the six month up trend line, the index is getting squeezed in by the short term resistance.

A break up this coming week would likely see a retest of 3900 and a break down is likely to see a retest of 3700.

Though The XAO has broken out and up of the 18 month down trend, a higher probability of maintaining the Bull run for the longer term would be a Higher Trough above the significant Moving Average (MAV).

290509 xao XAO Short Term Resistance?

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