Moral Compass - Friday

Good Morning and Welcome to the XJO Friday Thread


News for Today (AEST)




The XJO closed marginally lower on Thursday.

Once again we are seeing the close clustering of daily closes, the last three closes are all within a 10pt range.
Volume (value traded) was a smidgen higher than the previous two days, with a close above midbar.
As the market does its work at this level, the inference is that it is absorbing the supply as it come's in.
A widespread upbar would confirm this analysis, and also confirm this recent price action as a re-test of the breakout.

And as for the bears, Thursdays bar did not break and close below Wednesdays bar, especially as a lower low was established,
so the bears really need to see this level fail, and soon, as it appears the Index is gaining strength down here now.
A widespread downbar closing below Thursdays low would be a good start.

Spoiler : ***Paddo's Special***

Good Trading and Investing


cheers