International Dot Day - Thursday

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Good Morning and Welcome to the XJO Thursday Thread

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News for Today (AEST)




The XJO closed a little higher on Wednesday, where spread narrowed further, and the volume increased.
The index initially pushed lower, but rejected any deeper losses, and turned around and closed a little higher.
There is certainly an attempt at supporting the market, and some (speculative ??) buying has taken place - no doubt, however for me price remains vulnerable until Monday's high is recovered @5339.2, and preferably also that nearby purple breakdown line at @5361.7
In the meantime, watch for further bottoming action, or ongoing weakness, especially as price appears to be finding support between two recent levels, although I do note that the 200 SMA is crossing Wednesday's bar (not shown), which may have encouraged some support from MA traders, & there are also some longer term lines just below Wednesdays low.








Good Trading and Investing

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