Dead End Job..... - Thursday

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Good Morning and Welcome to the XJO Thursday Thread

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News for Today (AEST)





The XJO sliced down, to close sharply lower on Wednesday.
It is the lowest closing bar since price has come off recently, and the first close below 5000, & also the lowest closing bar since the 19th July 2013.
After Tuesday's bar which inferred a serious lack of demand, in response Wednesday's bar had increased spread and volume to the downside.
Not a good look really.....especially if you are unhedged long.......

Anyway,
Price closed below the supply line of the apex, and also below the longer term horizontal line @5039.6
To be fair, false breaks can be relatively common on apex's, so follow through or a re-entry rejection needs to be seen for confirmation.  
And keep in mind that apex's 'generally' see price eventually continue in the direction of the overall trend.
The break and close below  5039.6 can only really be repaired with a bullish reversal bar now, which is fairly unlikely, but always possible........

Spoiler : ***** Warning - Ground Wheat & Bicarb Humour - if there is any possible way this might offend you.....don't click it please..... *****

Good Trading and Investing

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