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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.
Initially price came off & eventually moved a little below Thursday's daily low (and the red dashed line),leaving the Index vulnerable during the morning session. However, price rejected breaking down, and the Index appears to have found little ongoing downside follow through (supply). Around Midday it appeared to spend some time absorbing what supply was present. Then during the afternoon, the Index continued to see demand & absorption of supply, which allowed price to move higher and close higher for the day.
Spread narrowed slightly on Friday, and volume was lower (although still slightly above average), and the close was near the day highs.
Just as the Index found some support at similar levels in mid October, it appears this level is again generating some support again .....at least for now. Obviously, should a failure now occur at this level (after initially being defended), would see another deeper pull back.
Good Trading and Investing
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Don't be Difficult - Monday
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Last
7,861.2 |
Change
-102.500(1.29%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,963.7 | 7,963.7 | 7,861.2 |
| XJO (ASX) Chart |