23/11/22. Finspiration Wednesday Evening Report
Australian ASX built on yesterday's strong result.
XJO up today +0.7%.
The Renko Chart shows the XJO in an up-trend and above the Kumo Cloud. That's a positive.
The Chart is getting close to a major horizontal resistance level.
Stochastic RSI is in the "stressed" level where a turn-down can be expected.
This up-trend may end if RSI (first panel below the chart) turns down. At 66.19 is close to the overbought level of 70 - so an end to this rally may be close. Stay cautious.
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