A Promising Start to 2019 – XAO

Australian All Ordinaries Index – 12 months to 12 January 2019



We are only two trading weeks into the New Year, but it is worth noting that the 1000 point downturn of the XAO (from 6500 to 5500) is rebounding at present.

  • The share index action has broken through the 6 month down-trend line.
  • An Inverted Head and Shoulder Pattern has formed.
  • An Impulsive Move higher has carried the share-index above the resistance of the previous high at 5750 initiating a change in trend.
  • The share-price is now at a resistance level at 5850. If penetrated it is likely that the index will trade in the previously established Zone B.

The company reporting season of February/March is now not far off, and of course Australia is hugely influenced by the continuing vagaries of the US market, but so far so good!




Categories: Chart Review

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  1. XAO Index on course to test resistance at 6500 – Technically Speaking

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