-------------------------------------------------------------------------------------------------------------------------------------------------------
Good Morning and Welcome to the XJO Wednesday Thread
-------------------------------------------------------------------------------------------------------------------------------------------------------
The XJO closed a little lower on Tuesday, where spread was about average, but volume was above average.
The Index pushed lower from the open, until mid afternoon, and then staged a comeback to close only slightly lower.
In essence price tested back through the spread of Monday's bar, and has drawn out above average supply, so I expect the highest probability is for another sideways bar today (similar to Tuesday, but perhaps a little narrower), in an effort to remove or absorb that supply. Next highest is perhaps for a continuing push higher......however just note that if the increased supply that has shown up on Tuesday begins to overwhelm price, or cannot easily be absorbed or removed, expect a pull back to some degree, at least until the increased supply dries up or moderates. A clear break and close below the blue line below, would probably see price come back and retest the strength of the previous breakout again.
Good Trading and Investing
finally, another big thank you to @redbacka and @V* for putting up some fine opening crankers while I was away.
..
..
..
- Forums
- ASX - By Stock
- XJO
- Lumpy Rug Wednesday
Lumpy Rug Wednesday
-
- There are more pages in this discussion • 42 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
LU7
Discover the strong preliminary feasibility of the Bécancour Lithium Refinery, showcasing resilience in a low pricing environment and a strategic plan to capitalize on future price recoveries
Add XJO (ASX) to my watchlist
(20min delay)
|
|||||
Last
8,150.0 |
Change
-55.200(0.67%) |
Mkt cap ! n/a |
Open | High | Low |
8,205.2 | 8,205.2 | 8,107.6 |
Featured News
XJO (ASX) Chart |