The XJO accelerated lower again on Friday, where spread increased, and volume remained above average.
Spread and volume both increased, which suggests that some of the new positions from Thursday may have been sold as price declined. Apart from a complete reversal (which is still quite possible), the odds have now shortened for a secondary test of the longer term (blue) line where price broke out in late March (@5807.8). This level found considerable support when previously tested in mid April.
Weekend Charting and Chat - 5th May 2017, page-2
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Last
7,971.1 |
Change
105.600(1.34%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,865.5 | 7,976.9 | 7,865.5 |
| XJO (ASX) Chart |