Look on the Bright Side - Thursday

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



The XJO closed marginally higher on Wednesday, where spread narrowed and volume reduced.
The Index swept lower after the open and challenged any sellers to come out.
Volume was reduced, and price closed back near its daily high, so I expect selling pressure was relatively light.
If this is the case, the expectation is for price to move higher in response today.
I put in a couple of little arrow to indicate where price is likely to be positive if exceeded, and to possibly change the short term trend if clearly broken to the downside.  Obviously between the two arrows is the consolidation or potential absorption zone.






Good Trading and Investing