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Good Morning and Welcome to the XJO Monday Thread
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News for Today (AEDST)
The XJO sliced down, to close lower on Friday.
Spread increased, as did the volume, but the close was off the daily lows, where that SR line around 5039.6 was again defended.
Price came off sharply from the open on Friday, mostly in sympathy with overseas markets, and also the falls in some commodity markets. The response to Friday's bar will be quite important next week. If there is decent follow through supply to the downside, or only a weakly upside response, the Index will be vulnerable to breaking down.
(sorry about the messy weekly chart below), it has horizontal lines at most of the important pivots, which (imo) form zones of potential support and resistance. This week's bar is a widespread downbar, and although volume was higher, it remained a little below average overall. Price pushed lower during the week, and again closed back within the important support zone surrounded by the longer term support line @ 5039.6
Good Trading and Investing
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Figure it out..... - Monday
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Last
7,947.3 |
Change
57.700(0.73%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,889.6 | 7,954.5 | 7,889.0 |
| XJO (ASX) Chart |