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Good Morning and Welcome to the XJO Tuesday Thread

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News for Today (AEDST)




The XJO closed higher on Monday, where spread remained about average, volume was just below average - but very high for a Monday, the close was high on the bar, and perhaps importantly the close was above last Friday's high.
Oooh now this bar is interesting, and is a little uncertain, so today's daily bar in response will most likely be important overall in the near term.
The volume was quite high for a Monday and was potentially buying or absorbing the supply at this level, which if so suggests that price is preparing for an attempt to rise.  However, the opposing thought suggests that the spread was not particularly wide considering how much volume was present (for a Monday), which infers that Mondays bar may contain hidden supply (selling).
I feel the former scenario holds the upper hand, mainly because of Mondays response to Friday's bar, and that the close was above Friday's high, but the latter scenario cannot be ignored.







Good Trading and Investing

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