The XAO busted up above the 18-DSMA today. The MACD is positive. The RSI is positive.Short-term that is looking good.
Longer term - the MACD is below its signal line, the RSI is below 50, and the DMI- is above the DMI+.
So - we have more upside to come - probably.
To me, this still looks like a counter trend rally.
So - while blue skies and gentle winds blow - take a balloon ride and enjoy the view. If the wind blows up and dark clouds loom - start to look for a convenient landing place.
Cheers
Red
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