The XJO closed modestly lower on Wednesday, where spread and volume both reduced.
There was no decisive response to yesterdays higher volume bar that closed poorly. The lack of a response today shifts the balance towards the positive to some extent (remember there has been a positive sentiment for a while now, and the broader market sentiment generally doesn't change very easily, or often).
The higher volume yesterday is still of some concern, but the market appears to have comfortably absorbed the supply - at least for now. (that increased supply on Tuesday would have not gone unnoticed across the market)
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