Really Fat Pizza, page-927

The XJO closed lower on Tuesday, where price came back a little and traded inside the previous bars range.
The Index continues to trade roughly sideways overall, and maybe slowly absorbing its way higher.
Today's down bar was fairly non-threatening at this stage.
The local market continues to see only very modest demand for higher prices, but there is no serious supply being drawn out either.
There might need to be a catalyst of some sort to get things moving higher again - with some 'intent'.
Note - a market with low demand is vulnerable to any supply event that may emerge (for whatever reason), as it can quickly escalate into something more serious.


cheers

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