Change in Behaviour - Thursday

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Good Morning and Welcome to the XJO Thursday Thread

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News for Today (AEST)





After seeing the supply coming in on Tuesday, the XJO failed at the resistance encountered across @5691.9, and sliced down with a wide spread to close substantially lower on Wednesday. There appears little doubt now that price will test the expected support which 'should' reside at the line across 5606.7.  Overall I expected that a test of support (@5606.7) would be a fairly good thing, however I didn't expect all the work the index had done over the past four days to be taken out by a single bar in one trading session.  So unless there is a complete reversal bar today, which is always possible, but unlikely, Wednesdays widespread bar does suggest an ease of movement to the downside, compared to the four grinding narrow spread days on low volume to the upside.
















Good Trading and Investing

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g'day BiggDaddy