In addition, the 5000 level should ideally be broken in shorter time than the second a-b-c leg took to form eg less than 14 days. This would provide additional confirmation that the next leg up may well be underway.
Thursday, May 19, 2011
XAO Short Term Update
The XAO may have found a bottom at last. The next several trading days should provide additional insight on this assessment, however, a break out of the channel line (shown) needs to occur next.
In addition, the 5000 level should ideally be broken in shorter time than the second a-b-c leg took to form eg less than 14 days. This would provide additional confirmation that the next leg up may well be underway.
In addition, the 5000 level should ideally be broken in shorter time than the second a-b-c leg took to form eg less than 14 days. This would provide additional confirmation that the next leg up may well be underway.
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