Good morning and Welcome to the XJO Thursday Thread
The XJO closed higher on Tuesday, where spread increased and volume was above average.
The Index has shown the hallmarks of bullish absorption or vertical accumulation for a few weeks now.
Price accelerated higher with added oomph (high volume) on Tuesday, which enabled it to push through the two breakdown lines (arrowed).
Barring a complete reversal (and potential failure) at this new higher level, I expect to see some form of consolidation adjacent to the freshly exposed congestion to the left (circled in green), once the initial push higher is complete.
Good Trading and Investing
Thank You Thursday
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Last
8,092.3 |
Change
139.100(1.75%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,953.2 | 8,092.3 | 7,952.8 |
| XJO (ASX) Chart |