India Pale Ale Thursday

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Good Morning and Welcome to the XJO Thursday Thread
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News for Today (AEST)



The XJO closed lower on Wednesday, where spread narrowed and volume reduced.
The Index pulled back a little from Tuesdays high, and drew out below average supply as it did so, which shows that selling pressure remains light.  Price continues sideways within the trading range.  If this little pull back means that price is going to make another sweep lower, it will be interesting to see if last Friday's low is exceeded.  I don't expect it will be, as I think it is starting to tighten up, but we'll see......
This extended sideways action is likely to have built up quite a cause now, and the effect when it finally breaks out (or breaks down), should have some decent power or momentum behind it.






Good Trading and Investing