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Index and Commodities Trading Week Beginning 30/10/2023
- October 29, 2023
XJO WEEKLY Price structure: MAJOR Support broken. With a breakdown below an important support level of 6930, the index now enters a bear market with a Primary downtrend in place. Major support remains at 6400 should price weakness persist. With the month of October closing negative the statistical outcome will be a further decline into
READ MOREIndex and Commodities Trading Week Beginning 16/10/2023
- October 15, 2023
XJO WEEKLY Price structure: Remains Bullish above 6390 The Weekly chart of the XJO shows the side-by-side body indicating a bullish reversal underway, with a close over the 7000-point level a positive. Although the Index remains within a sideway channel with 6930 as the key support level, the breakdown 2 weeks ago was met with
READ MOREIndex and Commodities Trading Week Beginning 09/10/2023
- October 8, 2023
XJO WEEKLY Price structure: Remains Bullish Last week’s “fake out “ low remains a very positive signal for a rally from this level. The retest of the 6930 has been discussed in the past weeks. Historically October remains a bullish month, with a closing price over this current fake-out bar high in the 7030 range
READ MOREIndex and Commodities Trading Week Beginning 02/10/2023
- October 1, 2023
XJO WEEKLY Price structure: Remains Bullish The small weekly range indicates the market has moved into balance during the last week of the Quarter. Strong support is indicated between the 7000 and 7070 midpoint from the March impulsive range. Historically, October remains a bullish month, with a closing price over this current inside range (IPd)
READ MOREIndex and Commodities Trading Week Beginning 25/09/2023
- September 24, 2023
XJO WEEKLY Price structure: Overall, the view remains Bullish An expanding range to the downside with the test below the 7000 level finding buyers willing to lift the index back towards the 7070 midpoint level. Consolidation continues with the sellers unable to take the market lower and buyers not willing to take the market higher.
READ MOREIndex and Commodities Trading Week Beginning 18/09/2023
- September 17, 2023
XJO WEEKLY Price structure: Overall, the view remains Bullish A bullish reversal last week will set the stage for a further move higher; the first resistance level of 7370 may provide some initial resistance and will remain the first support level should the market move over this level. The second key observation is the current
READ MOREIndex and Commodities Trading Week Beginning 11/09/2023
- September 10, 2023
XJO WEEKLY Price structure: Overall view remains Bullish Last week saw a higher low and higher high than the previous week; however, the solid close below the 7200 level is a further bearish signal with extended consolidation remaining in the overall technical view. With the closing value in the lower 20% of the overall range,
READ MOREIndex and Commodities Trading Week Beginning 25/09/2023
- September 3, 2023
XJO WEEKLY Price structure: Overall view remains Bullish The small range mentioned last week has become the market consolidation point, with last week posting a strong range low to high and, importantly, closing over the 7200 level, a very bullish signal for further gains. Although the closing price remains midway in the consolidation range of
READ MOREIndex and Commodities Trading Week Beginning 21/08/2023
- August 19, 2023
XJO WEEKLY Price structure: Remains Bullish A solid trading range lower without moving over the important 7370 level has set up the retest of the trendline. This week, only a trading range and next Friday’s close back over the 7200 level would confirm a breakout higher. This type of Weekly range is often a precursor
READ MOREIndex and Commodities Trading Week Beginning 14/08/2023
- August 13, 2023
XJO WEEKLY Price structure: Remains Bullish The small inside range reversal set last week, remains bullish for further gains. The low of the week. This week only a trading range over the 7370 level would confirm a breakout of the current consolidation. Should the Index move lower towards the 7200 level a bearish view would
READ MOREIndex and Commodities Trading Week Beginning 07/08/2023
- August 7, 2023
XJO WEEKLY Price structure: Bullish With Primary UP trend remaining in place. The Weekly view of the XJO now displays a reversal bar retesting the top pattern line. Last week we took the view a false break may be underway; this is now proven correct. This level, the chart remains positive for a resumption of
READ MOREIndex and Commodities Trading Week Beginning 31/07/2023
- July 30, 2023
XJO WEEKLY Price structure: Strong Bullish breakout, with Primary UP trend remaining in place. The current trendline has now been readjusted to reflect this significant reversal point. Last week’s reversal emanating from the 7370 mid-point level is a positive development for a continuing breakout towards Weekly resistance shown at 7565 points. Major support in this
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