Charts Interpretation - Australia
- Jay
- Sep 8, 2018
- 1 min read
We'll start off with the overall weekly ranking:
Now let's dive into some sectors of interest:
The A-REIT sector broke out of its relative range, now needs to break above its current resistance (~1465) in absolute terms, to be upgraded to "Strong". The Gold sector is finding some support at the 38.2% Fibonacci level of the December 2016 - July 2018 advance. The Real Estate sector is acting well (strong) in relative terms. The Energy sector was downgraded to Average, whereas the Metals and Mining as well as the Resources sectors were downgraded to Weak.
Interesting week ahead!
Jay
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