A glass of wine a day keeps the cardiologist away, or so they say.
That may be the reason there is such a thing as Drink Wine Day, but who’s to say we needed a reason to gurgle down a glass of our favourite zesty Bordeaux, anyway?
Well, whosoever thought of proclaiming a Drink Wine Day certainly pleased the gods and one in particular, Dionysus, or Bacchus to the Romans, god of merry making, wine, theatre and ecstasy.
Whatever the vintage of the one you’re sipping as we speak, make sure you share it, because today is a ‘wine and dine’ day.
In fact, you can leave out the ‘dine’ part because wine is said to be such a strong aphrodisiac, and red wine in particular, that your beloved will surely forgive you.
In fact, let’s raise a glass to the French for the hard work they’ve put into making us more lovable. Santé !
---------------------------------------------------------------------------------------------------------------------------------------------------- Good Morning and Welcome to the XJO Thursday Thread
The XJO closed lower on Wednesday.
Spread narrowed considerably compared to the previous bars, but volume remained about average.
Price moved up close to the underside of the old trading range, but missed it by two points before turning down.
Then in response the Index did not appear to come off very strongly considering the amount of volume that was on offer, which suggests an element of support still remains in the market.
Price is in a bit of an awkward position now, to move higher it needs to break through the potential resistance which will most likely be present at the lows of the old trading range (is it coming back for a run up....).
Otherwise, it may attempt to move sideways in the relative supply shadow below that level, however should price break and close below last Friday's low @4760.3 , a retest of the recent low, or a deeper pullback of some sort, is probably in order.
(20min delay)