Good Morning and Welcome to the XJO Tuesday Thread
News for Today (AEST)
The XJO closed a little lower on Monday,
Volume (value traded) was a little below average, which is normal for a Monday, when it is often quite low.
However, yesterdays volume was actually quite high for a Monday, the highest Monday volume for weeks and weeks.
And on that higher than usual Monday volume, it pushed a little lower, with a fairly narrow spread, and closed off the day lows.
That doesn't suggest the Index wants to breakdown, Mondays bar infers it was resisting a move lower.
The Intraday chart (not shown) shows the Index tried to hold above the potential support @~5639, before breaking down through that level,
where it held just above the next lower level @~5624, before edging a little higher into the close.
The intraday price action also did not suggest a breakdown was inevitable,
and does show some potential absorption of supply, and a spring off the day low.
After Yesterday, a very Generic Special today, safe for all to view.......haha
Good Trading and Investing
cheers
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