Wesfarmers: Low In Place

Technicals | Mar 22 2022

By Michael Gable 

In our report last week, we commented on the S&P500 Index getting close to some sort of resolution. It needed to break the downtrend line, or give us one final capitulation.

Given the bullish divergence that we highlighted last week, the S&P500 followed the most likely route, which was an upside break through the downtrend line. We may get some sideways consolidation here for a few days, but the overall picture for markets has now flipped to being positive and we would expect a recovery from here.

Today's report has analysis of Wesfarmers ((WES)).

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