XJO 0.09% 7,743.9 s&p/asx 200

Furball Friday

  1. 19,112 Posts.
    lightbulb Created with Sketch. 3682
    280416 Furball Day.png




    ---------------------------------------------------------------------------------------------------------------------------------------------------
    Good Morning and Welcome to the XJO Friday Thread

    ---------------------------------------------------------------------------------------------------------------------------------------------------




    News for Today (AEST)
    280416 news.png




    The XJO closed higher on Thursday
    Spread narrowed, volume increased slightly, and the close was just off the day highs.
    Price has made a reasonable attempt to reverse, but the reduced spread and increased volume (compared to the previous day) illustrate the difficulty price had in recovering the lost ground.  It appears that supply is still present, and until that supply is absorbed (bought) or removed, it will continue to thwart upward progress.  A break and close below Wednesdays low (@5179.5) is now the important level for a deeper pullback.
    And for the bulls, price needs to close above Wednesday's high, to be in a position to accelerate higher - which while possible, appears unlikely in the near term.  Apart from that, price may continue to trade within the range of Wednesday's bar, possibly between the two SR Lines.

    280416 xjo.png



    280416.png



    Good Trading and Investing

    .

    Bull Vs Bear 17.gif
    Last edited by Jako8557: 28/04/16
 
watchlist Created with Sketch. Add XJO (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.