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Just running the red line to the left shows there arent a lot of times when the market gets above this level…
but the times it has it has generally gone quite a bit higher.. so a bit of a major decision point..
What is this telling us CT – that the Australian market has hit a ceiling ? Does this presage a retracement of the market ? The highs have hit reistance but the lows are rising. Maybe the market is becoming range bound.
What is it telling you?
The only thing that I know for sure is that I do not know what will happen next.
There is an ascending triangle forming.
Would this chart suggest that opportunities for upward trending shares lay outside the All Ords at present?
There’s no profit in fixating and anticipating here “at this point in time”. That would be just too understandably human of me.
What are other charts / markets doing? Next!