XAO 1.23% 6,036.2 all ordinaries

bearish rising wedge on the weekly

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    a rising wedge typifies a situation which is growing progressively weaker. In many cases the wedge rises clear to the apex and in some go a short distance beyond pushing on out at the top in a last-gasp rally before collapsing. Trading volume diminishes gradually (as is the case here) as prices move up towards the apex. The drop (wait for it) ordinarily retraces all the ground gained within the wedge itself. Hope this is wrong.
 
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