International Tiger Day - Friday

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Good Morning and Welcome to the XJO Friday Thread

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News for Today (AEST).......heaps (around the world)




The XJO closed higher on Thursday
Spread narrowed considerably, but volume increased slightly - and remained a little above average........which individually suggests possible selling pressure, but in context with the overall chart which has seen potential strength recently, may in fact be ongoing absorption of supply........we'll see
The Index did not see any follow through to the downside in response to Wednesday's 'questionable' bar, but traded within its range all day.
This actually leaves two possibly weak bars together on an individual basis, but until there is some decent downside follow through to confirm the weakness, it is only an interesting anomaly.  
That said, if this is part of the absorption process (as I suspect), it still leaves a nagging doubt and will appear vulnerable until it can accelerate away from the danger point.
The blue resistance line above is @5606 and is the beginning of another band of potential resistance, and opposing that, should supply overwhelm price and force it lower, the band of previous resistance below will probably now offer some reasonable support.









Good Trading and Investing

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