For the 92-96 buy signal to be generated the price needs to close above $7617.2 by Thursday 27th May.
Generating the 92-96 buy would coincide with breaking through the 200 days MAV, currently at $7582.19. This would open the path to $8000.
Generating the 92-96 buy would coincide with breaking through the 200 days MAV, currently at $7582.19. This would open the path to $8000.
Other resistance levels for Wed 26th are $7512, $7556 and $7639.
Hey BM
ReplyDeleteAXGD closed Friday at 7,500 - u previously said it needed to close above 7617 to generate the 92/96 buy ? ( but obviously that changed ?? )
Please can u clarify this
thanks in advance
Cindy :)
Sure, that was the condition for Thursday but because the 92-96 back prices are falling the Friday buying in price was lower so the index bought :). The structure looks pretty healthy, indexes in the correct order with 92-96 falling. That is typical for bull markets. I personally expect a push to $8000 before a more significant correction but it is not required for the bull case to persist. In traditional TA terms, the price is settled inside the upper trending channel with a lot of space to move up and down.
DeleteCheers,
Branko