Banana Cream Pie Friday

Good Morning and Welcome to the XJO Friday Thread

The XJO closed lower on Thursday, where spread increased, but volume reduced to below average.
Price initially accelerated lower, however it seems not much additional supply was drawn out, and the Index closed off its daily lows.   This suggests some tentative or speculative positions were bought off the lows on Thursday (remember these will hold the usual risks associated with speculative positions for the chart).  
Taking a bigger picture view, there is some chance the highs of the high volume widespread downbar from 6th February (dashed line) have been upthrusted.  This may lead price to coil into another sideways trading range if support below remains firm, or if the support is tenuous, a re-test of the recent lows becomes more probable.





Good Trading and Investing