September is Chicken Month

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Good Morning and Welcome to the XJO Friday Thread
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News for Today (AEST)



The XJO closed higher on Thursday, where spread and volume increased, and the close was strong.
The Index ground higher throughout the day, closing at the day's high, and more importantly above the high of last Tuesday's high.
This places a potentially bullish sentiment or influence over the recent trading  as price moves back towards the centre of the sideways trading range.  Apart from a little narrow spread test of supply in the very near term, the expectation is for price to move higher in response (today or next week), up towards the highs of the range.
And for the Bear's, should price fail and breakdown in response now (after a potentially bullish combination of bars like this), it would be seen as a sign of weakness in itself, and would go some way towards confirming the potential weakness and breakdown.





Good Trading and Investing