Early opener, as I will be out late tonight........
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Good Morning and Welcome to the XJO Wednesday Thread
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News for Today (AEST)
The XJO closed lower on Tuesday, where spread narrowed, volume increased and the close was at the day's low.
The Index attempted to stage a recovery early, however ongoing supply eventually overwhelmed price, and forced it to close lower.
Even though not much more ground was lost (on an increase in volume), which may seen as some form of support, or that enough buyers stepped up to reduce the downwards stride. The last two bars (individually) suggest it may only be temporary support in a downtrend, mainly because price attempted to rally, but all of the gains were eventually lost by the close of trade, and the position of the close compared to the previous close, suggests the sellers remain in control for now.
PS- I read an article a while back, in which the author had experimented with many variations of moving average crosses (about 1400 variations, of SMA & EMA's), and it was concluded that the best overall combination was a 13EMA combined with a 48EMA.........
Good Trading and Investing
Early opener, as I will be out late tonight........ [ATTACH]...
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Last
8,099.9 |
Change
24.200(0.30%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,075.7 | 8,143.6 | 8,075.7 |
| XJO (ASX) Chart |