looking like a triangle setup so i will say its gonna break to the downside... because price is still under the 61.8% fib level. the only way for banks like WBC to rise again is if the RBA starts buying up WBC shares. it could happen too.
with Financials making up over 20% of XJO, I imply you referring XJO is crashing soon? do you have any timeframe in mind?
RogueCleaner
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@sondoku88, yes XJO is basically the big banks + some other big caps. Banks make money by debt creation. They need ppl to take out bigger loans but the private sector is saturated in debt already. my prediction is September/October there will be another smack down... unless the RBA steps in and start buying up bank shares... yes it can happen.