-----------------------------------------------------------------------------------------------------------------------------------------------------
Good Morning and Welcome to the XJO Monday Thread
-----------------------------------------------------------------------------------------------------------------------------------------------------
News for Today (AEDST)
The XJO closed higher on Friday.
The Index ignored Thursdays poor close, and instead reversed and pushed higher.
It did not however, close above the previous bars high, so this grinding action is likely to continue.
As can be seen on the chart below, there is no still sign of any serious or overwhelming supply being drawn out.
Since breaking out above the four month sideways trading range during October, the index moved sideways once price reached the potential resistance around the 5900 level. At this point there was some tight clustering of closes as price moved sideways. Since then the 'pressing nature' towards the upside can clearly be seen over the last week, as price ground up to the 5950 level (the April/May 2017 highs). Both these indications suggest absorption is taking place.
Good Trading and Investing
- Forums
- ASX - By Stock
- XJO
- Nachos Monday
Nachos Monday
- There are more pages in this discussion • 22 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
Add XJO (ASX) to my watchlist
(20min delay)
|
|||||
Last
7,587.0 |
Change
17.100(0.23%) |
Mkt cap ! n/a |
Open | High | Low |
7,569.9 | 7,616.0 | 7,569.9 |
Featured News
XJO (ASX) Chart |
The Watchlist
RDN
RAIDEN RESOURCES LIMITED
Dusko Ljubojevic, MD
Dusko Ljubojevic
MD
SPONSORED BY The Market Online