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Good Morning and Welcome to the XJO Tuesday Thread
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News for Today (AEST)
The XJO sliced down through potential support levels like butter, as it accelerated lower on Monday.
Price made three distinct thrusts lower during the day, with each wave shorter than the previous one.
Then finally the close pushed down to either begin a new wave, or create a spring........we'll have to see what eventuates today when it complete's.
Spread or range was very wide, volume (value traded) was very high for a Monday, and the close was on the day's low.
While extremely wide range bars can sometimes infer climactic action of some sort, perhaps more particularly on intraday timeframes.
Mondays daily bar gives nothing away to suggest this though.
I expected the conglomeration of lines dominated by the very long term line at 5039.6, to offer some decent support (and it still might eventually), however price took that level out with ease (apart from a little wiggle or two) during Mondays price action, and eventually closed below it.
Good Trading and Investing
.
Downgraded to Shred - Tuesday
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Last
7,629.0 |
Change
42.000(0.55%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,587.0 | 7,640.2 | 7,587.0 |
| XJO (ASX) Chart |