Once again I'm showing an intra-day chart which clearly shows that the XAO remains within a trading range. This range basically stretches from 4885 to 4950 - only 65 points.A move one way or the other out of the range should determine future direction for a while - maybe a week or so.
I still expect the market to fall a little - down to the November high before making another move. The November high was at 4817 - not that far away.
The market has now made no progress since mid-October - three months of no progress.
I'll be making further comments later tonight after I've done some more detailed analysis.
Cheers
Red
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