It could go either way..... - Wednesday

-------------------------------------------------------------------------------------------------------------------------------------------------
Good Morning and Welcome to the XJO Wednesday Thread

-------------------------------------------------------------------------------------------------------------------------------------------------









News for Today (AEST)






The XJO closed higher (again) on Tuesday.
However, spread narrowed,  volume (value traded) while increased, was still below average, and the close was high.
Selling pressure again appeared fairly low, which in turn allowed price to advance higher with little difficulty.
The narrower spread may be accounted for by the lower than average volume, combined with moving through potential resistance.

I was somewhat surprised with the relative ease the Index was able to penetrate the expected resistance of the old trading range lows.
I expected it may be a tough nut to crack here, but the lack of apparent selling pressure appears to have made the move quite easy.
(unless this has been a massive fakey of some sort, which I don't think it is....)

So onward and upward I guess.......
Oh, and I expect there is a decent chance price will revisit the trading range lows again at some time, and test this break through important resistance.
















Good Trading and Investing

.