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Charts Interpretation - Australia


We'll start off with the overall weekly ranking:

Now let's dive into some sectors of interest:

The A-REIT sector needs to break above its current resistance (~1465) in absolute terms, as well as breakout of its relative range, to be upgraded to "Strong".

The Energy sector is still stalling at the 50% Fibonacci level of the 2003-2008 advance, with momentum making lower highs, known as a bearish divergence.

The Health Care and the Technology, are the two sectors that have the most bullish momentum and rising in absolute price as well as in relative terms.

Interesting week ahead!

Jay

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