Thursday, March 17, 2011

Short term XAO update

A short update on the XAO action today.

Not shown, but worth mentioning, the MACD price oscillator has hit a lower extreme on the 60min chart, this can usually indicate wave 3's have completed. In the chart below, once wave 'iv' has completed and wave 'v' down finishes, the MACD should be divergent to the XAO and thus warning of an impending change in trend.

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