Alpha Male - Monday

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Good Morning and Welcome to the XJO Monday Thread

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News for Today (AEDST)




The XJO closed lower on Friday.
Spread remained wide, volume increased slightly, and the close was poor.
Price rallied from the open and even exceeded the high of Thursday's bar, giving some hope of a reversal.
However, the Index completely failed to hold onto any of those gains, and fell back to close lower than Thursdays bar.  
A bar which is not particularly encouraging, which also leaves a bad 'gut feel' for the weekend indeed.
This now leaves two bars which have closed below the initial low of the trading range (@4928.3), and while there is still not a 'clean and clear' break of the lows (confirming a 'breakdown'), the second bar down here makes a breakdown of support more likely.








Good Trading and Investing

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