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At the crossroads now Jako – watch the next move on the swing...

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6

15/05/18

19:30

Post #: 33115102
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Originally posted by Jako8557 ↑

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Good Morning and Welcome to the XJO Wednesday Thread

The XJO closed lower on Tuesday, and importantly - closed below the lows of the previous three bars.
In response to the questionable bar on Monday, and the two poorly closing bars prior to that, price eventually succumbed to the uncertainty and pulled back. Price is now trading adjacent to the congestion in the previous week, which should offer some form of support. A retest to confirm the strength of the breakout above ~6052 is now much more likely. For me, a clear break and close below ~6052 would most likely change the current trend in the near term.
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Good Trading and Investing

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At the crossroads now Jako – watch the next move on the swing chart for clues I reckon.

Cheers

XJO Value at posting: 6,097.8
6 Upvote

1 Great analysis

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