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Good Morning and Welcome to the XJO Tuesday Thread

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News for Today (AEST)










The XJO closed a little lower on Monday.
Price attempted to push higher during the session, but fell away during the afternoon.
Volume (value traded) was very low again (no oomph) and on that volume,  higher prices could not be maintained.

While the last two bars look pretty ugly, and they suggest that price may break down.  
Volume on both those bars was quite low, so while the index remains above the 5453.1 line, continues to move sideways, and does not show any further follow through to the downside, I will consider them as possible absorption bars.

Obviously the opposing view suggests that the index is undergoing selling pressure, and in response price will break down.





















Good Trading and Investing

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