Bourbon Tuesday

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Good Morning and Welcome to the XJO Tuesday Thread

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News for Today (AEST)




The XJO sliced lower on Friday and closed just within the trading range, on top of the potential breakdown line.
That breakdown line (green) has been tested many times recently, and has found enough buying to support the market each time.
However each time it has been tested, price has pushed a little deeper, and appears to be slowly weakening the support at this level.
Spread increased substantially over the last few bars, but volume reduced further, so importantly, it appears it was more a lack of demand, than increased selling pressure which moved the market on Friday.
Once again eyes will be focused on potential downside follow through, as the depth and duration of a breakdown (should it come), will offer some insight as to the strength or weakness of the overall market.








Good Trading and Investing

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