Family Day - Monday

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Good Morning and Welcome to the XJO Monday Thread

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News for Today (AEST)




The XJO closed higher on Friday, where spread increased, volume increased and the close was high.
After accelerating through the breakdown line this week (purple arrow), price has now pushed up very strongly, and is at a similar level to where price failed previously (green arrows, in early September).
While price could easily continue to force its way higher with the momentum which has been generated recently, there are two levels of expected potential resistance close together just above, which are likely to cause some difficulties in the near term.  Couple with this the recent breakout line has not been tested (purple arrow), and there is a decent chance price might come back and test for supply at that level, which should have the dual action of  shaking out some of the potential resistance above, if successful.







Good Trading and Investing

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Spoiler : ***Warning - Undergarment Cartoon***