Cheese Toast Friday

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Good Morning and Welcome to the XJO Friday Thread
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News for Today (AEST)



The XJO closed lower on Thursday, where spread narrowed, and volume was again below average.
The Index pulled back a little in what appears to be part of the consolidation process.  The pull back was relatively shallow and the close was in the middle.  So at this stage there is no sign of excessive supply or overwhelming selling pressure.  While price could rise in response to this bar, a little more sideways consolidation would probably be more beneficial overall.
And for the bears nothing has really changed, they need a clear close below the low of Tuesday bar @5713.1  ,which would infer a return to the lows of the trading range, and possibly threaten a price breakdown, and a potential change of trend overall.






Good Trading and Investing