XJO aka ASX200 keeps going high but what will be the potential targets before a pull-back? Can we expect a straight V-shape recovery with no looking back? Lets dive into the TA and analyze.
It seems ASX200 bounce from the 200Monthly MA last month has triggered a market recovery chain of events. But can we trust that? To me the real recovery would be confirmed if we close a weekly candle above 5800. Bulls can be happy that 0.382 fib milestone is reached, we have the price above LSMA line, the velocity is looking upwards
, but from the market structure point of view 5.8k needs to be taken, then 50MA and finally 0.618fib.
Keep an eye on this chart as a guide to whether you can invest in individual stocks. I will update you if anything changes.
Be safe.
XTF
It seems ASX200 bounce from the 200Monthly MA last month has triggered a market recovery chain of events. But can we trust that? To me the real recovery would be confirmed if we close a weekly candle above 5800. Bulls can be happy that 0.382 fib milestone is reached, we have the price above LSMA line, the velocity is looking upwards
, but from the market structure point of view 5.8k needs to be taken, then 50MA and finally 0.618fib.
Keep an eye on this chart as a guide to whether you can invest in individual stocks. I will update you if anything changes.
Be safe.
XTF
