Good Morning and Welcome to the XJO Tuesday Thread
The XJO closed higher again on Monday, where volume was really quite high, especially for a Monday.
The index continued higher and just tagged the highs of the range, before settling just a touch off the daily highs.
The very high volume for a Monday is a little concerning, especially right up near potential resistance.
Watch carefully the next bar and volume, as it should give some idea if this was 'good' volume, or 'bad' volume........so to speak.
Overall, price has been grinding higher for some time, in what appeared to be 'bullish absorption' or perhaps a vertical accumulation. At some point in time a period of consolidation (at the very least) is to be expected.
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Good Trading and Investing
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Last
7,763.2 |
Change
-59.100(0.76%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,822.3 | 7,822.3 | 7,759.5 |
| XJO (ASX) Chart |