September 2nd 2020: Upbeat ISM Manufacturing Survey Supports Modest DXY Recovery
- Daily Report, Recent Posts, Technical Analysis
- September 1, 2020
XJO WEEKLY Price structure: Impulsive decline The XJO 200 has decisively moved lower from the ascending wedge pattern discussed last week. It is now moving below the all-time high level and erasing gains for the 2024 year so far. This does not change the primary UP trend. The extended range (large range) may see some
READ MOREXJO WEEKLY Price structure: 2nd Bullish Weekly close As the Index moves to a new all time high with a strong range bar low to high, the indication is for market sentiment to remain positive in the coming weeks. The Index has also confirmed a move into a technical Primary UP trend. The 7632 level remains
READ MOREXJO WEEKLY Price structure: Strong advance. A strong range, closing at the high was presented last week, some follow-through should be expected during this trading week. With the current Weekly closing price remaining within the larger range between support at 6930 and resistance of 7370, the index remains within a downward movement. A further weekly
READ MOREXJO WEEKLY Price structure: Weak advance. Closing towards the high of the week suggests some follow-through should occur. The importance of the Index, although heavily weighted in 5-8 stocks is the sentiment reading on the strength of the buyers. The current small range for the Week indicates the market remains in balance. Also, the current
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