BBOZ
BBOZ Still slidingThis weekly chart shows the ASX200 is still on it's way up in the longer term. When you switch it to the daily BBOZ will likely go up meaning the
ASX GOING DOWN.
If prices reject $7.95-$8.11 than more likely keep going down, ASX UP
Weekly: Bearish points!
The Candles are riding the Bollinger band downward.
Prices are under the midline of the Lin Reg
The MFI used in combination with RSI are both heading down BEARISH
Stochastic RSI has just entered oversold territory and still on its way consolidating
BBOZ about to explodeWe are about to have a big drop in the Stockmarket. Anytime now.
The Bollinger band squeeze cannot get any tighter really and the price is sitting on the midline acting as support.
Once we get into the upper Linear Regression (blue) than it will be eminent. We are already there on the daily.
short the stockmarket or long BBOZ
AttentionAll eyes on this inverted H&S formation for a breakout (4 hour chart). This will also indicate that the index is turning down. There is currently no indication whether the downturn is a temporary retracement or permanent
Caution Advised$BBOZ Daily Chart - Daily candle is a shooting star indicating a reversal, at a previous resistance zone with diverging RSI. This adds to the conviction of a potential change in direction. We have also not seen a retest of the breakout levels, so caution is advised
XAO. Has all ords run its course?I have sold off all capital and moved to BBOZ 2x Leveraged SHORT TMF. high risk but i live for the biscuit!!
massive amount of bearish div. across multiple time frames on RSI
large long term distribution pattern (megaphone or expanding / diverging wedge)
new ATH on index
fractalised bearish patterns.
parabolic year to date, floundering and failing housing market, unemployment on the up.
Government ran projects at massive high levels (search Keynesian economy vs Simple economy), companies buying back shares across the board (this is my opinion is bad because it shows a lack of sentiment in short to mid term growth ie money not reinvested in staffing, equipment and growth but funneled back to company execs) inverted yield curve over seas, tension between CHINA and USA (trade war) (ref. hang seng HSI and view Australia's economic dependence on China's growth) well over extended period between recessions locally and a historically bullish, parabolic and over bought real estate market has caused Australia to fuel a service and construction boom leaving alot of people with out jobs if things go bad. No jobs + over extended and over inflated property market = mass forced sell offs... The bad times have just began. (IMO)
these are a few of my reasons to be mid term hyper bearish
do what you want
DEFINITELY DO NOT TAKE MY WORD AS GOSPEL ON THIS ONE DYOR!!!
good luck
stay safe
squirrel funds
and DYOR
oh btw
DYOR
not financial advisor, hard core day trader, chart analyst and punter!
