Take the Long View - Wednesday

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Good Morning and Welcome to the XJO Wednesday Thread

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News for Today (AEST)





The XJO sliced sharply lower with an expanding spread and a low close on Tuesday.
Volume however, remained relatively normal (a little below the current average actually), which suggests that demand in the market was quite low.   Price is now accelerating away from the upthrust of the breakdown line @5303.1, and is slicing through the levels with ease.
Apart from the demand line of the old reverse trend channel, which isn't likely to put up much of a fight.
Below the current price, the important horizontal lines nearby are dominated by the long term line at 5039.6, which is only 56.8 points lower.
After that, (should they be needed), I only have a series of minor lines, until two decent lines come through at 4758.3 & 4787.5 (not shown).

Spoiler : *****Warning - Disability Humour - please don't click off it may offend....*****

Good Trading and Investing

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