Unsurprisingly the XJO came back a little on Friday.
Price traded within the range of the previous bar on much reduced volume, in a fairly non threatening manner.
So at this point it suggests selling pressure remains low.
I feel some further testing and consolidation around that line @ ~6052 is more likely than a continuing push higher in the near term. Overall though, if no overwhelming fresh new supply is drawn out to force a breakdown, there does not appear to be much expected resistance above that line @~6052
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- XJO Weekly Charting - 4th May 2018
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