Weekend Charting and Chat - 1st July 2016, page-5

The XJO closed higher on Friday
However, spread narrowed, volume reduced (and was well below average), and the close was poor.
The quite low volume suggests there was little appetite for higher prices, and the lack of volume (or effort) could not sustain the challenge to the significant resistance lines above.
This is an important juncture - where the price action could fail (and put in another lower high) - or where a further challenge may be made to the resistance above.  
I feel the highest probability is for a narrow'ish spread downbar, closing mid to high, on low volume for Monday, although that thought may change somewhat after the overnight, overseas trading closes......we'll see.......


cheers