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XAO - Looks Bullish but MACD is making lower Highs?

All Ordinaries Index (ASX:XAO)  
rutt Updated   
ASX:XAO   All Ordinaries Index
Trend Analysis Chart Patterns Technical Indicators XAO
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trendanalysis chartpattern indicator xao
XAO has had 3 tests thus far to break out, however with MACD bearish divergence present any break out could be short lived. We could at some point early/mid next year see a reversal.
Comment:
The Corona virus reversal has been a lot harsher than I anticipated. The All ords upside break out lasted a touch more than a month, from approx 10th January - 20th February and then the cliff appeared. No need to dip the toes in the water & get bold just yet.
Comment:
Market is down, but first time for a week or so that Some green shoots popped up!
Comment:
The bear market is now upon us. Sit on the hands and wait.

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