Money in Futures - Wednesday

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Good Morning and Welcome to the XJO Wednesday Thread


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News for Today (AEDST)











The XJO closed a little higher on Tuesday, after (again) dipping lower during the morning session.

Volume (value traded) was much higher on Tuesday, however spread was not much increased, so either absorption or supply coming in will be the most likely reason. So far, it would appear that absorption (of supply) seems the most likely, as since the widespread upbar from 13 February, the Index has shown a grinding or pressing upward nature, and any follow through to the downside after a down bar, has been muted and light.

However, keep an eye out for any 'change of behaviour' at this level, as at this LT Resistance line would be a logical place for a (minor ??) failure of some sort.

So in a nutshell, there does appear to be some resistance (supply) at and above the LT 5903.2 line,
which hasn't overwhelmed price so far, and while this sentiment continues, supply appears to be being absorbed as the Index grinds higher.















Good Trading and Investing


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PS- sorry if my commentary isn't quite up to scratch this week, or doesn't make purfect sense, I have been a little off colour....