Weekly Aussie Market Focus, March 8, 2013

XJO breaks 5100 barrier

XJO breaks 5100 barrier

http://tradingforblondes.com.au/category/blonde-weekly-updates/

Link above is to an excellent review of market activity the past week by Kaye Rees.

Market remains bullish

Market remains bullish

Although the Daily chart of the XJO is suggestive of the price action perhaps moving into a trading range, the Weekly chart shows the impulsive move higher is intact with a solid 65.4 point gain for the week past.

The support of the trendline is continuing to hold and with the close at 5123.4, it will be interesting to see if the 5100 level provides support this week.



Categories: Chart Analyses, Technical Analysis

Tags: , ,

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