Good Morning and Welcome to the XJO Friday Thread
The XJO closed higher (again) on Thursday, where spread increased, and volume remained above average.
I said yesterday there did not appear to be much serious resistance above ~6052, and price sliced through and accelerated higher with relative ease. While this may represent a clear breakout, just wait for the response before breaking out the champagne. The Index is probably overdue a pullback and consolidation of the recent gains, and the wider spread, high close and above average volume just need some confirmation that hidden supply is not clouding the analysis. Watch for the response to this bar and volume, in a similar fashion to the 24th April bar (which turned out to be fine) just in case......
Good Trading and Investing
No Pants Friday
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Last
8,092.3 |
Change
139.100(1.75%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,953.2 | 8,092.3 | 7,952.8 |
| XJO (ASX) Chart |