Black and White Technical Report Week Beginning 19/12/2022
- Recent Posts, Technical Analysis, Technical Report
- December 19, 2022
XJO WEEKLY Price structure: Primary trend remains This current retracement with the price moving below the 7200 level has set up the index for further declines. It is important to note the Index remains in a bullish phase recently taking out the 7137 high. This current retracement is retesting this breakout level. In the short
READ MOREXJO WEEKLY Price structure: Primary trend The current retest of the 7200 level remains a positive for further gains with the weekly close remaining above this important level. A close below this level on a weekly basis will ensure further selling with the 6930 level coming back into play. However the primary movement remains UP with 7530 the
READ MOREXJO WEEKLY Price structure: Primary trend Last week’s “spinning” candle with the low retesting the 7200 level, suggests the market is setting up for price consolidation above the 7200 level. This level is a historical inflection point with the market finding both support and resistance at this level from Q2 2021. A closing price breakdown
READ MOREXJO WEEKLY Price structure: Primary trend Last week saw a solid move over the 7200 resistance level, with the close in the high of the range continuation should be expected. With the resistance support level of 7200, just breached, this should provide support for any retracement in the coming week. An immediate close below this level
READ MOREXJO WEEKLY Price structure: Consolidation The impulsive move of 2 weeks ago remains unchallenged with last weeks small range remaining at the high of the previous impulsive bar. Resistance remains at 7200, a closing breakout over this level would be very bullish for further gains. The key support level remains at 6930. With the current close over the
READ MOREXJO WEEKLY Price structure: Impulsive With a clear break away from the 6930 level, the 7200 level remains as resistance this week. The very strong range can be indicative for further gains. With a strong price movement from the 6400 low area this current movement higher is regarded as corrective. Resistance at 7200 is regarded
READ MOREXJO WEEKLY Price structure: The Weekly closing price has remained below the 6930-level following the price support level of 6620 remaining intact. The next level of resistance at 7200 remains the target in this current movement higher. Price reaching this level would indicate a breakout of the current down trend. Indicator: Relative strength 14: Relative
READ MOREXJO WEEKLY Price structure: The “midpoint” support level of 6620 remains in play with resistance of 6930 the immediate go to point for further gains. A close over this level and the Daily resistance of 7130 would be very bullish for further gains. To build a primary UP trend a move over the 7200 level
READ MOREXJO WEEKLY: Last week’s low saw the retest of the 6890 completed, with a high close in the range.
READ MOREXJO WEEKLY: Last week’s low saw the retest of the 6890 completed, with a high close in the range.
READ MOREXJO WEEKLY: Last week’s low saw the retest of the 6890 completed, with a high close in the range.
READ MOREXJO WEEKLY: Last week’s low saw the retest of the 6890 completed, with a high close in the range.
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