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Good Morning and Welcome to the XJO Thursday Thread

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News for Today (AEST)





The XJO closed lower on Wednesday.
Spread narrowed, and volume reduced (but was still above average), as the Index traded within the range of Tuesday's widespread bar.
Price retraced somewhat from Tuesday's highs on Wednesday, but is nowhere near an reversal bar yet (where a break and close below the low of Tuesday's bar would be the first indication price could reverse and breakdown).
The above average volume suggests supply is still present, and price will rarely go much higher when excessive selling is evident, so some sideways to down price action may be required to process that supply and absorb it (otherwise Tuesdays low @5217.4 comes into question......)









Good Trading and Investing

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