Good Morning and Welcome to the XJO Wednesday Thread
The XJO closed a little higher on Tuesday.
I was expecting some consolidation after pushing above that line at ~6052, and that is what we are getting so far.
The price action since Friday is reminiscent of the (bullish) absorption process, but probably a bit early to call it, at the minute.
The narrow spread, above average volume, and poor close suggest supply of some sort, so watch for a (brief ??) push down in response.
It will be the depth and duration of any downside follow through (if any at all) that will offer some insight into the overall process taking place.
Good Trading and Investing
Fluffy Slippers Wednesday
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Last
7,829.7 |
Change
66.500(0.86%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,763.2 | 7,832.3 | 7,763.2 |
| XJO (ASX) Chart |