corporate culture - wednesday

Good Morning and Welcome to the XJO Wednesday Thread


News for Today (AEDST)

The XJO yesterday put in a potentially bullish reversal bar.
Re-testing the lows of the strong widespread upbar from the 28th Oct and reversing higher.
An up bar today would confirm the reversal.

The 20 point daily wave chart shows the highest downside volume since late August,
however all that volume (value traded) could only take it down to the lows of the 28th Oct bar,
On an 'effort Vs reward' basis, that is a failure and suggests consolidation, as opposed to selling pressure.
Also of note is the relatively shallow angle of decline.

I do have a line of potential resistance at 5443, which I would like to see taken out soon as well (not shown).

Good Trading and Investing

cheers