ASX is at the key reversal now and here is another load of charts as of 19/02 trades closure
S&P 200
6 months
12 months
and the 10 years view
- we are again at the key resistance now
No doubt the local market is driven by 2 biggies – mining and banks. Last bounce is fueled by mining, finances were lagging to keep up the the same speed.
Financial sector
6 months
12 months
and the helicopter view
Mining (BHP made a major break out from the year long ranging, RIO is within the same raising channel)
6 months
12 months
high view
so with XJO we have now a topping negative divergence in RSI, sloping down MACD and the raising channel break
4hrs chart