Get out of the Doghouse 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, making it seven consecutive up days in a row.
Spread increased a little, but volume remained below average, and the close was about midbar.
Price again just floated up on a lack of selling pressure during the morning and early afternoon, before seeing some light supply from mid afternoon into the close, which was possibly only traders closing out positions for the weekend.
There are still no signs of any decent supply coming in yet, and until it does, price is unlikely to show any serious weakness.
Should the Index attempt to continue higher, above Friday's high between 5457 and 5499, there are four levels of potential resistance (not shown).  These levels will most likely require an increase in volume (as force or effort) if price is to push through.
On the other hand, should supply begin to come in, look for some support in the congestion below, most particularly between @5383.7 and 5372.1 and then @5357.0







Good Trading and Investing

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Spoiler : ***Warning - Saucy Cartoon***