ASX Morning call 18 July

Making the XJO thread great again.

Plan yesterday was to sell a rally to 6250 area Mondays closing gap in the first hour of trade. I gave it a few more minutes and it got to 6244 and then attacked gap close 10mins before RBA minutes and dropped like a stone all afternoon down towards S3 which was a buy for 10 points in the afternoon. Missed both of those so well done if you got some trades on.

This morning price has rallied back to test yesterdays highs in overnight trade. Very shallow selloff. I imagine there will be shenanigans before expiry tomorrow so expect price action to be mixed.

There is enough room for a spike to yesterdays high at 6248 in the first 10mins of trade. Target is only 5-6 points. Cash only so after 10am. If price gets above 6248 XJO is bullish and can go a lot higher.

High probability sell is from 6284 for 10 points and buys from 6147 for 10 points.