Draw a Picture of a Bird - Friday

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Good Morning and Welcome to the XJO Friday Thread

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News for Today (AEST)




The XJO closed higher on Thursday.
Spread narrowed, volume reduced, and the close was back around midbar........which is a bit of a worry, and a possible sign of weakness.
It appears there was a distinct lack of demand for higher prices on Thursday, right across our market.
Price was also unable to reach up high enough to even test the previous breakdown line @4992.4, which may also be a potential sign of weakness in itself - and a decent down bar today would offer some confirmation of this consideration.
At the very least, the bulls would probably need price to get back above the high of Tuesday's widespread downbar, to have any reasonable chance of turning this around in the near term (which also roughly equates to the blue line above).








Good Trading and Investing

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