XJO - so we hit the immediate target on the XJO Thursday and reversed Friday. nice drop. bears will be looking out for follow through next week. bulls will be hoping this is a one day wonder. the weekly chart shows how confused traders and investors are and how the bulls and the bears are fighting to reign supreme. the bears had a go the week before last and failed, allowing the bulls to control the situation Monday to Thursday this past week before hitting an immediate target and running out of steam. the failure on Friday was quite spectacular. the bullish momentum has certainly peaked for now at least.
weakly chart tug of war in the last 2 candles between the bull and the bear. no clear winner yet. next week should be decisive.
