3 years ago

Weekly Report 23rd February 2015:

Last week the XJO posted a “3″ Candle where the body of the candle is above the Midrange of the week.
This is a bearish candle.
With Dividends coming out of the market in next few weeks this will show in Index
This Mid range value will now become intra week support.

23/ February/2015.

The weekly chart of the XJO continues to show weakness with the (3) showing week before last week.  With last week showing (1) also a reversal candle.
These indications of weakness will only be negated with a Weekly closing price over the high of the resistance level of 5946.

XJO Weekly

The Daily chart of West Texas Oil  WTI is showing consolidation at the $50 level up from the lows of $44.
The down days are on noticably lower volume showing a lack of interest in selling lower.
Resistance at $52.70 needs to be broken, this is the key level before we see higher prices.