Dice Monday

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Good Morning and Welcome to the XJO Monday Thread
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News for Today (AEDST)



The XJO closed higher on Friday, where spread contracted to about average, volume reduced to well below average, and the close was midbar.  This suggests that while our local market moved higher in sympathy with overseas markets on Friday, there was only tentative support for this rise in price, leaving us with an upbar on low volume that lacked conviction.
To become bullish I see price having to break clearly above 6011.1 in particular, and 6021.8 may also hold some supply.
There is some reasonable congestion to the left and below the current price, this should offer support in a sideways range.   I expect it is likely price may move sideways in some form of consolidation action, for a period of time now.
Finally, if price were to break clearly below all this recent congestion to the left, a change in the intermediate trend may occur.





Good Trading and Investing