• Index and Commodities Trading Week Beginning 13/05/2024

    Index and Commodities Trading Week Beginning 13/05/2024

    • May 12, 2024

    XJO WEEKLY Price structure: Consolidation Last week a higher low and higher high has moved off the 7632 all-time high-level set in August 2021. The index has now remained at or around this level for the past 20 weeks. The rising wedge pattern broke to the low side with the impulsive move, the current rally

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  • Index and Commodities Trading Week Beginning 06/05/2024

    Index and Commodities Trading Week Beginning 06/05/2024

    • May 5, 2024

    XJO WEEKLY Price structure: Consolidation Sellers continue to maintain strength over the price action with last week’s “short range” higher close bar. The 7632 level now provides resistance following the impulsive down move 3 weeks ago. The Index is now developing a trading range between the spike lows at 7500 points and resistance at 7900

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  • Index and Commodities Trading Week Beginning 29/04/2024

    Index and Commodities Trading Week Beginning 29/04/2024

    • April 28, 2024

    XJO WEEKLY Price structure:  Inside range The brief rally early in the shortened four-day week met with resistance at the 7700 level (see Daily below). Currently, the weekly closing price is almost equal to the open, and the bar is an “inside range.” The current Weekly bar is also the second close below the 7632

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  • Index and Commodities Trading Week Beginning 22/04/2024

    Index and Commodities Trading Week Beginning 22/04/2024

    • April 21, 2024

    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

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  • Index and Commodities Trading Week Beginning 15/04/2024

    Index and Commodities Trading Week Beginning 15/04/2024

    • April 14, 2024

    XJO WEEKLY Price structure: Rejection of the high The Fake Out (FO) discussed two weeks ago has continued to play out with a reversal in the form of an outside period (OPd) and, last week, a further rejection of the high with a low closing price in the overall range. With the price remaining within

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  • Index and Commodities Trading Week Beginning 08/04/2024

    Index and Commodities Trading Week Beginning 08/04/2024

    • April 7, 2024

    XJO WEEKLY Price structure: Fake out + OPd The Fake Out (FO) discussed last week has played out with a reversal in the form of an outside period (OPd), with the price remaining within the ascending wedge pattern. The potential flowing an OPd is for further follow-through lower in this chart to retest the 7632

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  • Index and Commodities Trading Week Beginning 01/04/2024

    Index and Commodities Trading Week Beginning 01/04/2024

    • March 31, 2024

    XJO WEEKLY Price structure: Fake out top The underlying Primary trend remains UP, with current price action not indicating a meaningful reversal pattern until a close below 7632 takes place. Last week again set a fake out high (FO) where price has moved over a previous reversal high of 3 weeks prior. A weekly closing

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  • Index and Commodities Trading Week Beginning 25/03/2024

    Index and Commodities Trading Week Beginning 25/03/2024

    • March 24, 2024

    XJO WEEKLY Price structure: Breakout retest Without follow-through lower than the previous week’s retest of the 7632 level, the price action last week remained neutral until the recent high of 3 weeks ago was taken out with a close over 7853 points. The underlying Primary trend remains UP, with current price action not indicating a reversal

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  • Index and Commodities Trading Week Beginning 18/03/2024

    Index and Commodities Trading Week Beginning 18/03/2024

    • March 17, 2024

    XJO WEEKLY Price structure: Breakout retest The key reversal bar stands out as a retest of the 7632 breakout level. This is the key level for the buyers to hold this week. The underlying Primary trend remains UP. A further decline below the 7632 level puts the 7300 level as support to hold. Seasonally, in late

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  • Index and Commodities Trading Week Beginning 11/03/2024

    Index and Commodities Trading Week Beginning 11/03/2024

    • March 10, 2024

    XJO WEEKLY Price structure: Breakout New ATH targets 8000 points The Index has again closed at an all-time high and remains in a Primary UP trend. With the majority of the underlying stocks still below their 200-day moving averages, continued sentiment may lift the Index considerably higher, with 8000 points a strong target as Bullish sentiment improves.

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  • Index and Commodities Trading Week Beginning 04/03/2024

    Index and Commodities Trading Week Beginning 04/03/2024

    • March 3, 2024

    XJO WEEKLY Price structure: Breakout New ATH The Index has closed at an all time high and entered into a Primary UP trend. With the majority of the underlying stocks still below their 200 day moving averages, continued sentiment may lift the Index considerably higher with 8000 point a strong target as Bullish sentiment improves. The #3

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  • Index and Commodities Trading Week Beginning 26/02/2024

    Index and Commodities Trading Week Beginning 26/02/2024

    • February 25, 2024

    XJO WEEKLY Price structure: Consolidation The forward view for a further retracement remains the technical observation for this week. The small range set last week against the reversal bar #3 does not indicate selling pressure. With the close above the October 2021 all-time high level of 7632, support remains strong at this level. Consistent with

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