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ASX All Ordinaries: Bounce To 5800.4 Completed Wave (X)

Published 06/04/2015, 11:41 PM
Updated 03/09/2019, 08:30 AM
AORD
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Bounce to 5800.4 completed wave (X). From this level, the Index declined in a triple correction form ((w))-((x))-((y))-((z)) where wave ((w)) ended at 5685.6, wave ((x)) ended at 5752.3, wave ((y)) ended at 5581.9, second wave ((x)) ended at 5606.6, and wave ((z)) of W is expected to complete at 5503.7 – 5560.1 area.

As ASX All Ordinaries is currently already at the inflection area above, wave X can happen soon ideally reaching 5643.3 – 5680 before the decline resumes. We don’t like buying the proposed wave X bounce. As far as 5800.4 level holds in the bounce, the Index is expected to resume lower after wave X bounce is complete in 3, 7, or 11 swings.
XAO-ASX-6020150605014619-1024x584

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