Index and Commodities trading week beginning 29/05/2023
- Recent Posts, Technical Analysis, Technical Report
- May 28, 2023
XJO 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 MOREOPENING CALL: The Australian share market is expected to open lower. The SPI200 futures contract expected to open down 3 points.
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.
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 MOREOPENING CALL: The Australian share market is expected to open lower. The SPI200 futures contract expected to open down 3 points.
READ MORETrading Skills: How to Predict and Calculate the Next Candlestick.
The Japanese have been using candlestick charts many years before the western world created bar charts of any sort. Today, these candlestick patterns have become a crucial tool for traders to predict potential price movements of various assets. In fact, the most popular advanced trading platforms include these charts in their list of essential technical analysis tools.
READ MOREAustralian 200 index – Weekly
The WEEKLY chart of the XJO remains in a Primary UPTREND. With the week closing at 7017 points, this level remains vulnerable to a further breakdown. Further weakness would look for 6893 as Major support to be tested. The current small range weekly bars indicate a lack of sellers, however this will change.